Honda and Nissan say "Goodbye" to the merger

The boards of directors of Japanese car manufacturers Nissan Motor and Honda Motor have decided to abandon the merger negotiations, according to what reported by the local media.

According to TBS television and the Nikkei newspaper, the boards of directors of the two companies made this decision on Thursday, a few hours before their managers showed up in front of the media to explain it State of the interviews that the two companies started in late December with the aim of create a common entity.

The failure of the interviews was reported by the local media at the beginning of last week and is due to divergences between the two companies on the owner structure of the hypothetical joint venture. The main obstacle would have been Honda’s proposal to make Nissan a branch entirely controlled by the joint venture, Proposal that Nissan refused a priori.

According to local media, Honda would not be satisfied with the progress of Nissan renovation plan To overcome its financial difficulties, which provides for a 20% reduction in global production and the cut of 9,000 jobs.

After Toyota Motor, Honda is the second Japanese car manufacturer for sales volume and Nissan the third.

If the merger project, the completion of which was foreseen for the 2026had gone to the port, would have given birth to the Third car manufacturer in the world.