Nissan, Honda End $60 Billion Merger Talks

Nissan and Honda have officially called off their merger talks, which were initially announced in December, due to growing differences and complications in negotiations. The proposed merger would have created the world's fourth-largest automaker, but Honda's suggestion to make Nissan a subsidiary led to the decision to terminate discussions. Both companies emphasized the need to prioritize swift decision-making in a volatile automotive market, particularly with the rise of electric vehicle competitors. Despite halting merger discussions, Nissan and Honda intend to continue collaborating on electric vehicle technologies and other strategic partnerships. Nissan is also pursuing a restructuring plan that includes significant job cuts and capacity reductions amid challenges in the automotive sector, particularly from Chinese manufacturers. The firms had hoped to strengthen their positions against competitors like Tesla and BYD through the merger.