Japanese automakers Nissan and Honda on Monday announced they had entered into official talks to merge and create the world’s third-largest automaker by sales.
A business integration would give the companies an “edge that will not be possible under the current collaboration framework,” Mibe said, according to a translation.
A holding company would be formed as the parent company of both Honda and Nissan, listed on the Tokyo Stock Exchange.
In its most recent quarterly results, Nissan said it would cut 9,000 jobs and reduce global production capacity by a fifth.
“There are so many warning signs, so many red flags around Nissan at the moment that something had to happen.
Persons:
Toshihiro Mibe, ” Mibe, Mibe, Tesla, France’s, ”, Makoto Uchida, “, it’s, ” Peter Wells, CNBC’s, ” Wells, Iordache, Sam Meredith
Organizations:
Nissan, Honda, Monday, Tokyo Stock Exchange, Mitsubishi, Japan’s Nikkei, Analysts, France’s Renault, Cardiff Business School’s, Automotive Industry Research