Nissan, Honda announce plans to merge, creating world’s No. 3 Automaker
Makoto Uchida, President and CEO of Nissan Motor Corporation, and Toshihiro Mibe, President of Honda, hold a joint press conference on their merger talks in Tokyo, Japan, on December 23, 2024. Kim Kyung- Tokyo (AP) — Japanese automakers Honda and Nissan have announced plans to join forces, forming world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi Motors also had agreed to join the talks on integrating their businesses. Honda’s president, Toshihiro Mibe, said Honda and Nissan will pursue unifying their operations under a joint holding company. Honda will initially lead the new management, retaining the principles and brands of each company. The aim is to have a formal merger agreement by June and to complete the deal by August 2026, he said. No dol...