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Japanese automakers Nissan and Honda have referred to as off a $50 billion merger that may have fashioned one of many world’s largest automobile firms.
Each corporations stated in a press release on Thursday that they referred to as off the deal “to prioritize velocity of decision-making and execution of administration measures” as an “more and more unstable” automobile market heads into an electric-vehicle period.
The automakers stated they might proceed to work in “the framework of a strategic partnership” shifting ahead.
Nissan and Honda first introduced they have been starting merger talks in late December. Had the merger occurred, it will have created the world’s third-largest automaker by gross sales.
It is a growing story. Please examine again for updates.
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