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Nissan has announced strategic partners in the tech industry after CEO Uchida told Honda’s counterpart that it has concluded merger talks to create the world’s fourth largest automaker. I’ve started looking.
According to two people who know first-hand about the issue, searching for new partners will be broad and outside of the automotive industry.
Some board members could also consider partnering with Foxconn, a Taiwanese iPhone contract manufacturer. Apple’s suppliers reached the Alliance Partner Renault late last year, seizing a near-equivalent round of merger negotiations with Honda.
Uchida met Honda Chief Toshihiro Mibe on Thursday morning to let him know the board’s intentions to disband the talk that was announced in December.
The talks collapsed after Honda accepted a new offer over the weekend to become a wholly owned subsidiary, demanding that Nissan be deviated from the joint holding company’s initially agreed structure.
On Wednesday, Nissan’s board of directors decided that they would quit the merger talks as Honda had said that the new offer would “take it or leave it there.” management.
Nissan and Honda declined to comment. The companies are scheduled to report their revenues next Thursday, and will publicly announce that consultations have concluded and explain why.
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After launching a formal speech with Honda, the debate quickly fell into a debilitating battle, with Honda accusing Nissan of slowly moving it with a restructuring plan, and Nissan claiming that Honda’s new offer blinded it did.
Analysts were skeptical of unions from the start because of the Gulf of the company’s culture. Nissan is proud of its engineering talent and Honda, and has a long record of going on its own.
French Renault offloaded 36% stake in Nissan after the 25-year alliance was restructured in 2023.
With the collapse of the acquisition talks, Foxconn is opening its doors to rekindle Foxconn’s ambitions to acquire Renault’s stake as a platform to expand its electric vehicle units.
Jun Seki, Chief Strategy Officer of Foxconn’s EV division, knows Nissan well after previously serving as three executives until the end of 2019.
