India, Feb. 13 -- Honda, Nissan, and Mitsubishi have officially ended the merger discussions, scrapping their December agreement to form a joint holding company. The proposed USD 60 billion automotive group aimed to compete with Tesla and Chinese EV manufacturers, positioning itself as the world's fourth-largest carmaker behind Hyundai, Volkswagen, and Toyota. However, deep divisions led to Nissan's withdrawal.
According to a statement from Nissan Motors: 'During the discussions between the two companies, various options were considered regarding the structure of the business integration. Honda proposed changing the structure from establishing a joint holding company-where Honda would appoint the majority of directors and the chief executi...