Japan’s Honda and Nissan may be on the cusp of a deal that could change the dynamics of the global electric vehicle market. The two struggling Japanese brands aim to combine their resources to take on China’s leading EV maker, BYD. According to recent sales figures, BYD outsold Honda with 3.76 million vehicles in the first 11 months of 2024, while Nissan trailed behind with just over 3 million. A potential acquisition could give Honda and Nissan the scale needed to challenge BYD’s market share and potentially surpass Toyota, which has a strong presence in both Japan and the US.
Source: https://www.bloomberg.com/news/articles/2024-12-25/toyota-sales-stagnate-as-factory-glitches-compound-weaker-demand