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(L to R) Makoto Uchida, President and CEO of Nissan motor corporation, Toshihiro Mibe, President and Representative Executive Officer of Honda, and Takao Kato, President and CEO of Mitsubishi Motors attend a joint press conference in Tokyo on December 23, 2024. AFP
Japanese auto giants Honda and Nissan on Monday agreed to launch talks on a merger seen as a bid to catch up with Chinese rivals and Tesla on electric vehicles.
The two firms, along with Mitsubishi Motors, “have signed a memorandum of understanding to start discussions and considerations toward a business integration between the two companies through the establishment of a joint holding company,” a joint statement said.
Meanwhile, the duo said Monday they aim to list a new holding company in August 2026 as the pair announced they are entering talks on a merger.
“Shares of the newly established joint holding company under consideration are planned to be newly listed (technical listing) on the prime market of the Tokyo Stock Exchange. The listing is scheduled for August 2026,” another joint statement said.
Details later
AFP
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