Multi-Arab Dollar Honda-Nisan merger talks collapse

The merger interaction between Honda and Nissan has fallen after failing to agree on a multi-unarmed dollar tie-up deal.

Japanese car manufacturers targeted their businesses to combine rival firms, especially to fight against competition in China.

Speaking in December, Honda’s Chief Executive Toshihiro Mibe said that a deal with Nissan would compete with “Chinese power of”.

The forces joining would have created a new motor industry with Toyota, Volkswagen, General Motors and Ford.

It would also have provided Nissan, which was the second largest car company in Japan for a while, which included its top officials with significant relief after sales and upheaval years after years.

In November, Nissan surprised shareholders with a plan to launch thousands of workers to deal with the decline in sales in China and the US.

The growing electric car market has dominated Chinese manufacturers, such as Byd.

This increased competition has struggled to compete with many major car manufacturers in the world.

In March last year, he announced the merger plan, two Japanese car manufacturers agreed to find out a strategic partnership for electric vehicles (EVS).

“The talks began because we believe that by 2030 we have to build capabilities to fight them, including the existing emerging forces, otherwise we will be beaten”, at that time Mr. Mibe said.

Meanwhile, Taiwanese technology has emerged as a potential investor in giant, Foxconn, Nissan.

“If cooperation is required (purchase of Nissan shares), we will consider it,” Foxconn “president Young Liu told reporters on Wednesday.