Japanese automakers Nissan and Honda have known as off a $50 billion merger that might have fashioned one of many world’s largest automotive corporations.
Each corporations mentioned in a press release on Thursday that they known as off the deal “to prioritize pace of decision-making and execution of administration measures” as an “more and more risky” automotive market heads into an electric-vehicle period.
The automakers mentioned they might proceed to work in “the framework of a strategic partnership” shifting ahead.
Nissan and Honda first introduced they had been starting merger talks in late December. Had the merger occurred, it will have created the world’s third-largest automaker by gross sales.
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