Honda Motor and Nissan Motor have delayed plans to unveil further details about their planned merger until mid-February or later, revised from the previous schedule of the end of January, as they continue to work through the finer details of the plan.
The two carmakers announced in December they planned to begin “discussions and considerations” towards fully integrating their automotive businesses under a new joint holding company. According to local reports, Honda wants Nissan to step up in restructuring efforts ahead of the planned merger.
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Nissan announced in November that it planned to cut 9,000 jobs, or 6% of its 133,000-strong global workforce, and reduce production capacity by 20% after it reported a 90% drop in net profits in the first half of the current fiscal year – between April and September 2024.
There are other significant considerations to be worked through. Since the original merger plan was announced, Mitsubishi Motors has indicated that did not expect to join the merged company. The company is expected to announce later in the month its decision to retain managerial control of its operations and maintain its status as a listed company, while continuing to collaborate closely with Honda-Nissan.
