Auto industry
Japanese carmaker Honda and Nissan blow fusion
Cooperation in important fields yes, merger no. A fusion of number two and number three of the Japanese car manufacturers is off the table.
As expected, the Japanese carmakers Honda and Nissan draw a line under their merger talks. The negotiations started in December will be ended, the corporations announced in Tokyo on Thursday. Instead, the companies together with Mitsubishi Motors want to work together in the strategic partnership planned since August last year, which is aimed at digitization and electrification of vehicles. In the past few weeks, the fact that nothing turns into does not become more and more apparent in recent weeks, and several media had reported.
The Japanese carmakers had hoped to better defend themselves against the weakening business in China and the strengthening competition in the growing electric market market. Japanese automobile manufacturers have fallen behind globally in this area. Tesla and the Chinese manufacturer BYD put pressure on the Japanese in the USA and China. Nissan has to struggle in the Chinese market in particular, where sales have dropped significantly.
The subject of the discussions included that Nissan could slip under the roof of Honda as part of a joint venture – which, however, failed. The corporations had decided to focus on faster decision and implementation processes in the rapidly changing market, the explanation said. After the VW rival Toyota, Honda and Nissan are the second and third largest carmaker Japan.
dpa
Source: Stern
