The chief executives of all three held a joint press conference in Tokyo.
"The rise of Chinese automakers and new players has changed the car industry quite a lot," said Honda CEO Toshihiro Mibe, citing technological trends of electrification and autonomous driving.
"We have to build up capabilities to fight with them by 2030, otherwise we'll be beaten."
The two companies would aim for combined sales of 30 trillion yen ($191 billion) and operating profit of more than 3 trillion yen through the potential merger, they said.
They aimed to wrap up talks around June 2025 before setting up a holding company by August 2026, when shares of both companies would be delisted.
This story is from the December 24, 2024 edition of Financial Express Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 24, 2024 edition of Financial Express Kolkata.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A middle-class meltdown
Economic shift, stagnating real income post Covid weigh on spending on daily items
Shyam Benegal cremated with full state honours
VETERAN FILMMAKER
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
Local satellites push draws 30 aspirants
The applicants for IN-SPACe's latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group's Tata Advanced Systems.
₹2-cr fine on Deloitte Haskins for Zee audit
In September 2018, the chairman of ZEEL, who is also the promoter of Essel Group of Companies, issued a letter to Yes Bank, and committed ₹200 crore of fixed deposit (FD) of ZEEL as a guarantee for the loans given by the bank to group company Essel Green Mobility.
Labour-intensive exports: Gains likely to be short-lived
India's textile exports saw modest growth, but gains may be short-lived due to a volatile rupee and challenges in the global market. A weak rupee could benefit exporters, but also increase import costs for raw materials. Long-term gains require competitiveness and product diversification.
EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
Economists for FTAs, land & labour reforms
RCEP was signed by the group of countries in November 2020 except India.
Uniting for greater good
Collaborative philanthropy, a model where people pool resources, expertise, and governance to create a greater impact, is not a new idea, and holds valuable lessons for modern philanthropy.
