In a historic turn of events, Japanese automakers Honda, Nissan and Mitsubishi, have signed an MoU to join hands. Citing the growing threat of cash-rich Chinese brands, and new players especially in the electric vehicle segment, the Japanese brands are exploring the possibility of a joint holding company, which will create the world’s third largest automaker, behind Volkswagen and Toyota. Talks between Honda and Nissan will conclude by June 2025, after which the merger process would begin. Mitsubishi meanwhile, will evaluate the prospect, and make a decision by January 2025, if it will be a part of the merger or not.
Honda and Nissan have explored various collaborative efforts in the past, including EV components, batteries, and development of autonomous driving technology. These projects however couldn't be brought to fruition.…
