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Honda Motor Co Ltd (TYO:7267) is open to restarting merger talks with Nissan Motor Co Ltd (TYO:7201) if Nissan’s CEO Makoto Uchida steps down, according to the Financial Times. This development follows the recent collapse of merger plans that could have created the world’s third-largest automaker.
The FT report, citing sources close to the matter, stated that Honda is willing to reconsider the merger if Nissan appoints new leadership to handle internal resistance. Merger discussions fell apart after Honda reportedly insisted on making Nissan a fully owned subsidiary, a move opposed by Nissan.
Uchida, who became CEO in 2019, has expressed his intention to remain in his role until 2026. However, mounting pressure from Nissan’s board, shareholders, and its partner Renault (EPA:RENA) could force his early departure. Informal talks about his exit have already begun within Nissan’s board, the FT reported.
A potential merger with Honda is seen as crucial for Nissan, which has been grappling with declining sales due to increasing competition from electric vehicles, weak global demand, and production disruptions in Japan. Meanwhile, Taiwanese tech giant Hon Hai Precision (TW:2317), also known as Foxconn, is reportedly considering acquiring a stake in Nissan following the failed Honda merger.
This high-stakes scenario underscores the challenges facing Japan’s auto industry as it navigates technological shifts and global competition. The future of Nissan’s leadership and its potential alliances will significantly impact the company’s trajectory in the evolving automotive landscape.
