Japanese automaker Nissan will throw its lot in with Honda.
The two Japanese OEMs plan to merge by 2026,
creating the world's third-largest car company in the process.
Already, earlier this year the two signed memorandums of understanding to create a strategic partnership
focused on software and electrification.
Now, they say, the changing business environment calls for deeper integration.
Currently, #Honda is an independent OEM,
albeit one with strong links to #General #Motors.
Meanwhile, #Nissan currently forms one part of an alliance, together with France's #Renault and the also-Japanese #Mitsubishi.
But the Renault-Nissan alliance has not been entirely smooth.
In 2019, then-head of the alliance Carlos Ghosn was arrested by Japanese police
on charges of financial misconduct.
After three months under house arrest,
Ghosn fled the country and Japan's criminal justice system, (which rarely returns a not guilty verdict).
Last year, Nissan agreed to invest $663 million into Renault's EV activities;
at the same time Renault gave up the majority of its shares in Nissan,
reducing the stake of each company owned by the other, down to 15 percent.
That was meant to lead to "a broader range of EV products and powertrains,"
said Uchida at the time.
But evidently it was decided that this arrangement was not sufficient to improve Nissan's electric vehicle portfolio.
For its part, Mitsubishi says it will monitor the situation and decide whether or not to join at a later date.
Meanwhile Renault said in a statement that
"as the main shareholder of Nissan,
Renault Group will consider all options based on the best interest of the Group and its stakeholders.
Renault Group continues to execute its strategy and to roll-out projects that create value for the Group,
including projects already launched within the Alliance."
https://arstechnica.com/cars/2024/12/honda-and-nissan-to-merge-honda-will-take-the-lead/