Business
Mitsubishi Motors' shares up on reports it will join Honda-Nissan partnership
July 29, 2024
December 23, 2024
By Evans Momodu
1 minute read
Japanese carmakers Honda and Nissan have unveiled plans to merge, potentially creating the world's third-largest automaker by sales, following Toyota Motor Corporation and Volkswagen AG.
The companies signed a memorandum of understanding, with plans to include Mitsubishi Motors, a smaller member of the Nissan Alliance, in discussions about integration.
By pooling resources, Honda, Nissan, and Mitsubishi aim to cut costs and boost competitiveness in the EV sector, which has become a key focus in the global automotive industry.
If finalised, the merged entity would have an estimated combined market capitalization of over $50 billion (£39.77 billion).
This merger reflects a significant shift in strategy for Japan’s automotive industry, signaling a commitment to innovation and adaptation in a rapidly evolving global market.
Source: Sky news
Image: TVC news
