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Al Jazeera

Business

Nissan, Honda announce merger, creating world’s third-largest carmaker

Nissan Honda Japan Carlos Ghosn Makoto Uchida Toshihiro Mibe Mitsubishi Motors

Nissan President Makoto Uchida and his counterpart at Honda, Toshihiro Mibe, hold a joint news conference on their merger plans, in Tokyo, Japan, on December 23, 2024 [Kim Kyung-Hoon/Reuters]

Japan’s Honda and Nissan are planning a merger, which would create the world’s third-largest carmaker as the industry pivots away from fossil fuels.

The company’s two presidents, Toshihiro Mibe of Honda and Makoto Uchida of Nissan, signed a memorandum of understanding on Monday, projecting the establishment of a holding company by August 2026, which could potentially position them third in the market after Toyota and Volkswagen.

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