Deal would create world’s third-largest carmaker with £46bn annual sales amid competition from China

Summary

Honda, Nissan, and Mitsubishi have confirmed merger talks to form the world’s third-largest carmaker by annual sales, aiming to tackle challenges from Chinese competition and the shift to electric vehicles.

The proposed merger, through a joint holding company, seeks to combine resources as Japan’s automakers struggle with declining sales and costly EV transitions, lagging behind leaders like Toyota and Chinese rivals BYD.

Nissan’s former CEO Carlos Ghosn criticized the plan, citing overlapping operations, while executives called it a pivotal move amid unprecedented industry changes. Mitsubishi will decide on joining by January’s end.

  • a1studmuffin@aussie.zoneEnglish
    111·
    2 days ago

    To be fair to him, Japan’s justice system sounds truly awful! I had no idea, but just went down a rabbithole learning about it.

    • partial_accumen@lemmy.worldEnglish
      33·
      2 days ago

      To be fair to him, Japan’s justice system sounds truly awful! I had no idea, but just went down a rabbithole learning about it.

      Then he shouldn’t have set up shell companies and funneled Nissan company funds into those to buy himself expensive real estate around the world. One doesn’t accidentally set up a shell company, deposit company funds into it, and then use those funds to buy expensive apartments in Paris.

      • a1studmuffin@aussie.zoneEnglish
        111·
        2 days ago

        Completely agree, I don’t know specifics of his case. But Japan’s justice system really does sound horrific - if you’re a defendant, there’s no presumption of innocence until proven guilty, and there’s a cultural expectation that you’ll bow to the state and accept guilt regardless of circumstances… seems like a very antiquated system to say the least. I had no idea.

        • vulgarcynic@sh.itjust.worksEnglish
          28·
          2 days ago

          Sounds like a cultural expectation of accountability to me. Living in a country that is the complete opposite, I can respect having a national sense of everyone should be doing the right thing and if you’re suspected of not doing so, you need to have the character to prove it thoroughly.