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Honda, Nissan Kick off Talks on Merger; Mitsubishi Motors Decides to Join or Not Early Next Yr: Wire
2024-12-23 08:56:24 Honda and Nissan, Japan's second and third largest automakers, formally kicked off negotiations on a merger today (23rd) to establish the framework for the world's third largest automobile alliance, Kyodo News reported. Mitsubishi Motors will clarify the conditions and decide whether to join early next year. The presidents of the three car companies will report to Japan's Ministry of Economy, Trade and Industry and Ministry of Land, Infrastructure, Transport and Tourism within the next few days, and then hold a press conference to make an official announcement, report told. Honda and Nissan are reported to be discussing the sharing of production lines, as well as Honda providing Nissan with a hybrid-electric vehicle solution for the U.S. market, but the merger is contingent on a "V-shaped recovery" in Nissan's results performance. Shares of Nissan and Honda inched up 0.3% and 1.2% in the Tokyo morning market. ~ AAStocks Financial News Web Site: www.aastocks.com | |