In March 2024, Nissan and Honda announced they would collaborate on software, autonomous driving, and vehicle connectivity. Later in the year, this was solidified in a formal memorandum. Then, with red ink all over its finances, Nissan announced it would cut 20% of its production capacity and 9,000 jobs, although it did not plan to close any factories. Both companies admitted they faced serious challenges in China especially, where they have lost market share to domestic players. Nissan’s US dealers have also reportedly been left with thousands of unsold cars, and many dealers have been running at a loss. November reports suggested that the two companies were considering a merger, and a plan was finally confirmed in December.
