As plans for a merger between Honda and Nissan fell apart, a Toyota exec allegedly reached out to Nissan.
A new report from Japanese media suggests that Toyota reached out to Nissan, following the failed merger with Honda.
In a process that started in early 2024 with discussions regarding electric vehicle collaboration, Nissan and Honda then expanded the scope of the partnership to a full-fledged merger.
By the end of 2024, Mitsubishi, which already collaborates with Nissan, joined the discussions.
The merger was touted as allowing the brands to more effectively compete with the high-tech, low-cost vehicles coming from China, allowing the three smaller brands to combine their volume and purchasing power to lower running costs.
But by February 2024, Nissan and Mitsubishi confirmed that they would remain independent from the proposed merger, rejecting Honda’s offer to bring Nissan on board as a subsidiary of Honda.
At this stage, it is unclear what form that support may have taken, or if any discussion about a partnership or rescue package may have advanced.
Toyota also has cross-ownership agreements with other Japanese car makers, including Subaru, Mazda, and Suzuki.
Although no announcement has been made regarding the approach from Toyota, Nissan’s current CEO, Ivan Espinosa, has previously expressed interest in collaborations with other automakers.
"I have a no-taboo approach to partnerships,” Espinosa said in March, when speaking to overseas media.
At the time, Nissan’s CEO said, "I would say for partnerships in general, we are very open,"
"The future of the industry is going to be very interesting, and it's clear that the name of the game in the future is how to build efficient partnerships that add value to your company.”
Nissan continues to hold a 24.5 per cent stake in Mitsubishi Motors, and has said that talks regarding collaboration opportunities with Honda are ongoing, even if the merger has been officially called off.
Renault also holds a 15 per cent stake in the Japanese company as part of a long-running alliance between the two brands.
Kez Casey migrated from behind spare parts counters to writing about cars over ten years ago. Raised by a family of automotive workers, Kez grew up in workshops and panel shops before making the switch to reviews and road tests for The Motor Report, Drive and CarAdvice.
