Business

Honda, Nissan aim to merge by 2026 in historic pivot (Reuters)

Published

2 years ago

December 23, 2024

687 Views

Honda and Nissan are in talks to merge by 2026, they said on Monday, a historic pivot for Japan’s auto industry that underlines the threat Chinese EV makers now pose to the world’s long-dominant legacy car makers.

The tie-up would create the world’s third-largest auto group by vehicle sales after Toyota and Volkswagen (VOWG).

It would also give the two companies scale and a chance to share resources in the face of intense competition from Tesla (TSLA.O), and Chinese rivals, such as BYD.

The merger of Honda, Japan’s second-largest automaker, with Nissan, its No. 3, would be the biggest reshaping in the global auto industry since Fiat Chrysler Automobiles and PSA merged in 2021 to create Stellantis (STLAM.MI) in a $52-billion deal.

Smaller Mitsubishi Motors was also considering joining and would make a decision by the end of January, the companies said.

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.

Honda, which has a market capitalisation of more than $40 billion, roughly four times that of Nissan, will appoint the majority of the company’s board, they said.

Combining with Mitsubishi Motors would take the Japanese group’s global sales to more than 8 million cars. The current No. 3 is South Korea’s Hyundai and Kia.

Related Topics:Honda merge by 2026 in historic pivot

Up Next

Telecom tariffs to rise in Q1 2025 after NCC approval

Don't Miss

Aviation Minister Thanks UBA for Renovated MMIA Departure Section

Click to comment

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

133 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.