Nissan, Honda to start talks for merger

Nissan Motor and Honda Motor announced on Monday they have formally agreed to begin discussions on a merger, with both boards approving a basic agreement.

Mitsubishi Motors has also signed a basic agreement to explore participating in the integration, with a decision on its involvement expected by the end of January 2025, said Honda Motor CEO Toshihiro Mibe at a news conference.

Nissan and Honda aim to finalize the formal agreement by June 2025. The merger, if realized, will establish a joint holding company via a stock transfer, making Nissan and Honda wholly-owned subsidiaries while retaining their brand identities. The holding company is expected to be listed on the Tokyo Stock Exchange's Prime Market by August 2026, Mibe said.