Toyota stepped in to offer Nissan support after failed Honda deal – report
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A new report from Japanese media suggests that Toyota reached out to Nissan, following the failed merger with Honda.
In a process that started in early 2024 with discussions regarding electric vehicle collaboration, Nissan and Honda then expanded the scope of the partnership to a full-fledged merger.
By the end of 2024, Mitsubishi, which already collaborates with Nissan, joined the discussions.
The merger was touted as allowing the brands to more effectively compete with the high-tech, low-cost vehicles coming from China, allowing the three smaller brands to combine their volume and purchasing power to lower running costs.
(Nissan Pathfinder factory in the US. The company has not announced plans to close this plant.)
But by February 2024, Nissan and Mitsubishi confirmed that they would remain independent from the proposed merger, rejecting Honda’s offer to bring Nissan on board as a subsidiary of Honda.
Now, a report has emerged from Japanese publication Mainichi that suggest a Toyota executive had made contact shortly after, with an offer of support.
At this stage, it is unclear what form that support may have taken, or if any discussion about a partnership or rescue package may have advanced.
Toyota Motor Corporation currently holds the title of the world’s largest car maker (including Toyota-owned brands like Lexus and Daihatsu), ahead of Volkswagen Group and Hyundai Motor Group.
(Toyota Factory.)
Toyota also has cross-ownership agreements with other Japanese car makers, including Subaru, Mazda, and Suzuki.
Although no announcement has been made regarding the approach from Toyota, Nissan’s current CEO, Ivan Espinosa, has previously expressed interest in collaborations with other automakers.
"I have a no-taboo approach to partnerships,” Espinosa said in March, when speaking to overseas media.
At the time, Nissan’s CEO said, "I would say for partnerships in general, we are very open,"
Ref: Toyota stepped in to offer Nissan support after failed Honda deal – report (drive)
