(ZeroHedge)—As China continues its dominance over the global market, EVs continue to play a central role in changing the business and global economies slow down, Honda and Nissan have announced plans to merge, according to AP.
The resultant company would be world’s third-largest automaker by sales, according to the report. On Monday the two companies announced they had signed a memorandum of understanding to integrate their businesses, with Mitsubishi Motors also joining the discussions.
Facing competition from EV leaders like Tesla and China’s BYD, Japanese automakers are uniting to cut costs and accelerate their transition to electric vehicles.
Honda’s president, Toshihiro Mibe, stated the companies plan to form a joint holding company, maintaining their brands while Honda leads management. A merger agreement is targeted for June, with the holding company expected to list on the Tokyo Stock Exchange by August 2026.
There is still to study and discuss, Mibe said. He commented: “Frankly speaking, the possibility of this not being implemented is not zero.”
“We have come to the realization that in order for both parties to be leaders in this mobility transformation, it is necessary to make a more bold change than a collaboration in specific areas,” he added.
AP writes that a potential merger between Honda, Nissan, and Mitsubishi could create an automotive giant valued at over $50 billion, helping them compete with industry leaders like Toyota and Volkswagen.
Toyota, which collaborates with Mazda and Subaru, produced 11.5 million vehicles in 2023, far surpassing the combined output of the three companies, which totaled about 8 million vehicles that year.
Reports earlier this month suggested Taiwan’s Foxconn was interested in acquiring Nissan shares from Renault, but Nissan CEO Makoto Uchida denied any direct approach from Foxconn, acknowledging the company’s “severe” situation.
Speculation had previously linked Foxconn to Nissan shares, but CEO Makoto Uchida denied contact and acknowledged Nissan’s financial struggles, the AP report says.
The merger aims to strengthen EV and software efforts, addressing global market shifts. Nissan, recovering from scandals and recent losses, has cut jobs and restructured under Uchida. Analysts highlight Honda’s potential benefits, including access to Nissan’s SUVs and EV expertise.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
