After kicking off discussions on Monday, Honda and Nissan said they plan to provide more details on Mitsubishi’s involvement around the end of January 2025. The EV merger is expected to be official by August 2026.

Honda has concentrated its efforts on hybrid vehicles, catering to markets with growing demand, particularly in the United States. Unlike Nissan, Honda offers a range of hybrid models in the US, capitalizing on the increasing popularity of fuel-efficient alternatives among American consumers.

The two companies' stock prices initially rose on Tuesday following reports of merger discussions. Nissan shares on the New York Stock Exchange jumped from $4.56 to $5.15, and Honda shares increased from $25.03 to $25.26. However, as Nissan stock continued to rise Wednesday over $6, Honda stock dipped below $25.