Fast Technology reported on December 18 that it was reported that Japan’s two major automakers, Honda and Nissan, are negotiating to merge to enhance their competitiveness in the field of electric vehicles.
The two sides plan to operate by establishing a single holding company, possibly including Mitsubishi Motors, with the goal of building one of the world’s largest auto groups.
Both Honda and Nissan issued statements confirming that they are exploring future cooperation opportunities and leveraging their respective advantages.
The move is intended to catch up with China companies that have taken the lead in the field of electric vehicles, such as BYD.
Japanese companies have lost their competitiveness in the electric vehicle market due to their excessive focus on hybrid vehicles.
In 2023, China will overtake Japan to become the world’s largest automobile exporter, and the leading position of electric vehicles is one of the key factors in its success.
, Honda plans to increase investment in electric vehicles to US$65 billion by 2030, aiming to achieve all sales to electric vehicles by 2040.
Nissan has also announced a similar plan, with 16 of the 30 new cars launched in the next three years being electric models.
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