Nissan is set to unveil a major shake-up in its top management next month as part of an accelerated turnaround plan, sources familiar with the matter said on Thursday.
Nissan Motor Co. (7201.T) and Honda Motor Co. (7267.T) have formally ended discussions on a potential merger, a deal that would have created a $60 billion automotive giant. Despite this decision, both automakers confirmed they will continue to collaborate on electric vehicle (EV) technology.
Honda and Nissan plan to merge, forming the world’s third-largest automaker, as Japan’s car giants accelerate efforts to lead the shift to electric and autonomous vehicles.
Honda and Nissan are exploring deeper collaboration, including a potential merger, to address growing competition from Tesla and Chinese EV makers. The move could create the world's third-largest automaker, reshaping Japan's automotive industry.
Nissan CEO Makoto Uchida faces mounting pressure to revive the automaker after missed hybrid opportunities and falling sales in key markets. Major cuts and restructuring plans are underway.
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