TOKYO (Reuters) -Nissan Motor will aim to announce the direction of its possible integration with Honda Motor by mid-February, a company spokesperson said on Friday, pushing back the plan from the end of January.
The two Japanese automakers have been in talks to explore a merger by 2026, in a historic pivot for Japan’s auto industry that underlines the threat Chinese EV makers are posing to the world’s long-dominant legacy car makers.
“(The) two companies planned to decide on the direction of the management integration by the end of January, but Integration Preparatory Committee discussions are ongoing,” the spokesperson said.
In December, the companies said they aimed to wrap up their talks around June, before setting up a holding company by August 2026, when shares of both companies would be delisted.
Nissan’s long-term alliance partner Renault has previously said it is open in principle to the merger. The French automaker owns 36% of Nissan, including 18.7% through a French trust.
Separately, sources told Reuters last week that smaller alliance partner Mitsubishi Motors was considering not joining the planned merger.
(Reporting by Daniel LeussinkWriting by Mariko KatsumuraEditing by Chang-Ran Kim)
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