Honda, Nissan reportedly in talks to set up holding company
Honda and Nissan are in talks to set up a holding company, according to a person with knowledge of the matter, a move that would allow them to share more resources amid competition upending the global industry.
The talks, first reported by the Nikkei newspaper, would allow the two automakers to cooperate more closely on technology at a time when the industry is being rewritten by the likes of Tesla and Chinese rivals.
The talks are aimed at setting up an umbrella holding company that Nissan and Honda would then fall under, said the person, who declined to be identified because the information had not been made public.
It was not immediately clear whether a new holding company was aimed at eventually establishing a full union between the two companies, although Nikkei said they were beginning merger talks.
The two carmakers have increased ties in recent months as they wrestle with the changing EV landscape. As well as heavy competition, automakers also face stalling demand in Europe and the U.S., intensifying the pressures on them.
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