Nissan accelerated its merger talks with Honda to prevent Taiwan-based Foxconn, the maker of iPhones, from taking a stake in the Japanese automaker. This is according to a report published by Bloomberg News.
According to Japanese media, an announcement on a possible merger may be made as early as Monday, December 23. Before that, Honda Executive Vice President Shinji Aoyama has confirmed that the two carmakers are exploring several options including a capital tie-up or the establishment of a holding company.
The fast tracking of the possible Nissan-Honda merger, according to the report, was fueled by Taiwan’s Foxconn which had earlier approached Nissan to take a controlling stake. It’s unclear if Nissan had entered talks with Foxconn or already declined its proposal. The position of Renault, Nissan’s largest shareholder, is also uncertain.
Foxconn is investing heavily in factories to build battery electric vehicles and it has former Nissan Chief Operating Officer Jun Seki as the head of Foxconn’s EV strategy division. Seki left Nissan in 2019 after he expressed frustration at the company’s turnaround plan.
The planned Nissan-Honda merger could be expanded to include Mitsubishi Motors. If that happens, it would effectively consolidate the Japanese auto industry into two main camps—one one controlled by Honda, Nissan, and Mitsubishi, and another consisting of Toyota which also has stakes in Subaru, Suzuki, and Mazda.
100% sure
ReplyDeleteA Honda Nissan partnership won't last long as I expect, maybe Toyota could take care of them in the future too as I've noticed before...
ReplyDeleteThem japanese companies struggling to survive except toyota. Just like phones from japan getting left behind by chinese companies even finland's nokia. These japanese car brands really need to up their game, it ain't about quality and reliability anymore. Ain't talking about philippines but them as a global company. We've seen how chinese are dominating globally whether you like it or not.
ReplyDeleteToyota may not only keep on surviving, but also, while the former may find attraction in the Honda-Nissan merger rumour, Toyota could soon use it so that they would have both Honda, Nissan and Mitsubishi out of business for good. (Which may even prompt Toyota to take over carmakers that are deeply notable like Fiat/Jeep aka Stellantis and even Volkswagen/Audi in the near future.)
DeleteChina Dominating what??? Foreign companies leaving china in droves in favor of vietnam, malaysia, india etc. Europe and USA cut off china access to high end chips, chips making equipment, they now barred china from acquiring/buying western high tech companies. China jobless at all time high, 600M chinese people living below poverty line. Sadly, China only dominates in producing copycat fake products, like products you can see in divisoria, sidewalks and even in notorious greenhills mall.
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