Mitsubishi Motors

Nissan Chief Executive Makoto Uchida, left, Takao Kato, CEO of Mitsubishi Motors, center, and Honda Chief Executive Toshihiro Mibe, right, leave after a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024.

Honda and Nissan, two of Japan’s largest car manufacturers, have announced their intention to merge, forming a giant that will claim the third spot globally in terms of sales.

Mitsubishi Motors will bolster its line-up in Europe through locally producing the new Colt model in Renault Group plants in the northwestern province of Bursa on the horizon of 2023.

Dialing up the alliance with the carmaker Mitsubishi, ​Renault Group announced a win-win strategy on April 5.

Nissan on Feb. 8 hiked its annual net profit forecast again on strong interim results, aiming to weather the global chip shortage as it shifts focus to electric vehicles.

The Japanese car giant now expects yearly net profit to March 2022 of 205 billion yen ($1.8 billion), having already tripled its annual profit outlook in November to 180 billion yen.

Group Renault announced on Friday it was suspending planned capacity increase projects in Romania and Morocco as part of a plan to reduce fixed costs globally. According to a press statement released by the French group, the objective of reducing fixed costs by more than 2 billion euros over 3 years aims to restore the group's competitiveness and ensure its long-term development.