Japanese auto giants Honda and Nissan are in preliminary merger talks to help them compete against Tesla electric vehicle makers, media reports said Wednesday.
Shares in Nissan soared as much as 24 percent, while Honda dipped more three percent. Mitsubishi Motors — of which Nissan is the top shareholder — gained almost 20 percent.
Japan’s number two and three automakers behind Toyota had already agreed in March to explore a strategic partnership on EVs.
“We are discussing possibilities for cooperation… in a wide range of fields and in various areas, and those possibilities include the latest reports, but there is nothing decided,” a Honda spokesman told AFP on Wednesday.
Nissan said: “The content of the report is not something that has been announced by either company… If there are any updates, we will inform our stakeholders at the appropriate time.”
Major automakers the world over have been reeling from tough competition in EVs, in particular from Chinese competitors such as BYD.
The 100-Index of the Pakistan Stock Exchange (PSX) continued with bearish trend on Wednesday, losing…
Textile exports witnessed an increase of 10.51 percent during the first five months of the…
Food group exports from the country during the first 05 months of the current financial…
The price of 24 karat per tola gold increased by Rs.1,000 and was sold at…
The Pakistani rupee on Wednesday appreciated by 5 paisa against the US dollar in the…
Federal Tax Ombudsman Dr. Asif Mahmood Jah said on Wednesday that taxpayers' rights were fully…
Leave a Comment