AsianDragons @AsianDragons: "Honda, Nissan move to deepen..."

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Honda, Nissan move to deepen ties, sources say, including possible merger 👉 $HMC (Honda Motor Co, Ltd-ADR) (Honda Motor Co, Ltd-ADR) and Nissan are in talks to deepen ties, two people said on Wednesday, including a possible merger, the clearest sign yet of how Japan's once seemingly unbeatable auto industry is being reshaped by challenges from $TSLA (Tesla Motors, Inc.) and Chinese rivals. 👉 A combined Honda and Nissan would create a $54 billion company with annual output of 7.4 million vehicles, making it the world's third-largest auto group by vehicle sales after $TM (Toyota Motor Corporation-ADR) (Toyota Motor Corporation-ADR) and $VOW3.DE (Volkswagen AG) . 👉 The two firms had already forged a strategic partnership in March to cooperate in electric vehicle development, but Nissan's deepening financial and strategic trouble in recent months has added more urgency for closer cooperation with larger rival Honda. 👉 Nissan announced a $2.6 billion cost savings plan last month that includes cutting 9,000 jobs and 20% of its global production capacity, as slumping sales in China and the U.S. led to a 85% plunge in second-quarter profit. 👉 "This deal appears to be more about bailing out Nissan, but Honda itself is not resting on its laurels," said Sanshiro Fukao, executive fellow at Itochu Research Institute. "Honda's cash flow is set to deteriorate next year and its EVs haven't been going so well." 👉 Shares of Nissan closed nearly 24% higher in Tokyo trade on Wednesday, while shares of Honda, whose market value of $43 billion is more than four times bigger than that of Nissan, declined 3%. Shares of Mitsubishi gained nearly 20%. Read more ❓ www.reuters.com/markets/deals/honda-nissan-move-closer-tie-up-competition-intensifies-source-says-2024-12-18/ ✨ $HMC (Honda Motor Co, Ltd-ADR) (Honda Motor Co, Ltd-ADR) and $TM (Toyota Motor Corporation-ADR) (Toyota Motor Corporation-ADR) are part of @AsianDragons, a new eToro Smart Portfolio. It seeks exposure with leading diversified companies from the Developed East Asian countries, including Hong Kong, Singapore, South Korea, Taiwan, Japan, and Macao. @AsianDragons is an innovative Smart Portfolio launched by eToro and is now available with a $500 minimum investment. Some of the companies invested in this portfolio are $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) , $SMFG (Sumitomo Mitsui Financial Group Inc-ADR) , $GRAB (Grab Holdings Ltd) , $MFG (Mizuho Financial Group Inc-ADR) , $ASX (ASE Technology Holding -ADR) , $01928.HK (Sands China Ltd) and $CPNG (Coupang Inc.) . Your capital is at risk. Past performance is not an indication of future results.