(Reuters) – Honda is willing to resume takeover talks to form the world’s fourth-biggest carmaker, provided Nissan CEO Makoto Uchida steps down, the Financial Times reported on Monday, citing sources familiar with the discussions.
Last week, merger talks between Honda, Japan’s second-largest automaker, and Nissan, its third, collapsed, ending plans to create a $60 billion car company.
This setback has plunged Nissan into further uncertainty, and highlights the pressure on legacy automakers from Chinese rivals disrupting the industry.
Honda is willing to revive negotiations under a new boss who can more effectively manage internal opposition, the FT report said on Monday.
Uchida has expressed his intention to stay until 2026, but is facing pressure to step down in the coming months from board members and partner Renault following his mismanagement of negotiations for a $58 billion megadeal, FT report said.
Nissan’s board of directors has also started informal discussions regarding the timing of Uchida’s departure, according to the report.
(Reporting by Rhea Rose Abraham in Bengaluru and Urvi Dugar; Editing by Rashmi Aich and Sherry Jacob-Phillips)
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