Japanese automakers are taking drastic measures to keep pace with Tesla and Chinese EV leaders like BYD. Honda and Nissan are now closing in on an EV merger to join resources and fend off the incoming competition. The merger is designed to help survive industry’s rapid shift to electric power. The tie-up could likely involve a third auto partner from Japan which reports suggest might be Mitsubishi
Honda and Nissan have been paving the way for an EV partnership for several months now. In March, the Japanese auto giants announced plans to co-develop new software and other EV tech.
Nissan CEO Makoto Uchida said the collaboration is “significant” given the two legacy automakers “face common challenges.” Those challenges, Uchida referred to, are Tesla and surging EV makers from China like BYD
Source: Electrek: Read The Article
PSR Analysis: The potential Honda and Nissan EV merger signals the growing pressure on legacy automakers to keep up with Tesla and other global electric vehicle leaders. As the electric vehicle market heats up, we can expect to see other companies (not just in to automotive industry) consider methods of working together ranging from collaborations to full scale mergers. A lot of OEMs are just waking up to the EV revolution. PSR
Guy Youngs is Forecast & Adoption Lead at Power Systems Research
