Struggling major car brand ‘to enter relationship' with rival firm months after failed ‘mega-merger' talks
An agreement between the two companies is in place after talks to form one of the world's biggest car manufacturers fell apart earlier this year.
2
Nissan is to collaborate with rival firm Honda just months after failed merger talks
Credit: Alamy
2
The car firm are in talks to supply cars to Honda in the US
Credit: AFP
Nissan is in talks to supply cars to Honda in the United States.
The company is considering making Honda pickup trucks at its Canton plant in
The plant currently builds the Nissan Frontier and was the previous home of the full-size Titan which ended production with the 2024 model last year.
It follows failed talks between Nissan and Honda to form the world's third-largest automaker earlier this year.
Read more Motors News
But the two said they would keep up an agreement to work together in areas such as electric vehicles.
Nissan said in a statement on Friday that it had no additional updates, although it continues to work on projects with Honda.
They refused to comment on speculation but if the deal happens, it could benefit both Nissan and Honda.
Nissan's Canton factory is currently operating at well below its production capacity.
Most read in Motors
So producing models for Honda could increase the plant's output and profitability.
Honda would also be able to make new trucks in the United States that would help it evade Trump's tariffs while also increasing domestic vehicle production.
New Nissan Leaf tested - it's bigger, better and goes further
And they could be built alongside some Mitsubishi models too.
In late May, Nissan confirmed that it was having discussions with Mitsubishi about producing cars in Canton, but a Nissan spokesperson said a final decision hadn't been made.
It would indicate that Nissan is aiming to increase production at its plants around the world.
New Nissan CEO, Ivan Espinosa, said the company were open to partnerships as it faces up to five simultaneous crises including a damaged brand, low morale, and the execution of a sweeping turnaround.
The carmaker's troubles run deep, reporting a
With debts of around $4.8 billion, Espinosa unveiled a sweeping cost-cutting plan that included closing seven factories worldwide and a cut of 15% in the global workforce.
Espinosa, who
Nissan's struggles first began appearing in mid-2024 when it asked dealers in the US to begin selling its vehicles at a loss.
News then broke that Nissan and Honda were to expand their earlier partnership to work on electric vehicles and software alongside fellow manufacturer Mitsubishi.
But in November, Nissan dropped the bombshell announcement that
By the end of 2024, some company executives had disclosed that Nissan had 12 to 14 months left to survive - a frightening prospect, with its best chance of continuing being a merger with another company.
In December, the CEOs of Nissan and Honda met for official talks and announced they would officially look to merge.
But these talks deteriorated in the new year as Nissan withdrew from the deal, following Honda's proposal to make them a subsidiary.
Both Nissan and Honda are facing strong competition from Chinese firms in addition to difficulties around tariffs between the US and Japan.
They also announced it will
And to make things worse,
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Irish Sun
4 hours ago
- The Irish Sun
Donohoe in grim Budget ‘challenge' alert after €400 social welfare & €560 Child Benefit decision amid tariff job fears
BUDGET 2026 will cut €1,000 from each Irish workers pocket - with the government ruling out €400 once-off lump sums, €250 energy credits and €560 extra Child Benefit-eligible households. The Minister for Finance played down October's budget spending as he admitted Ireland is facing into a "challenge" with Trump's threatened tariffs possibly making an impact in just a few weeks. 3 Finance Minister Paschal Donohoe is hoping for a successful negotiation between the US and the EU on tariffs Credit: EPA/OLIVIER MATTHYS 3 Taoiseach Micheal Martin said uncertainty around tariffs is 'problematic' for Budget preparations Credit: Cillian Sherlock/PA Wire Minister Paschal Donhoe said the US slapping a 30 per cent tariff on the EU would impact job creation and result in worse levels of employment within the economy. He said Ireland's finances are in "good condition" and he is confident the country can rise to the Speaking to RTE's Morning Ireland, he said a trade agreement between the EU and US could be reached before tariffs take effect. But he warned that although the cost of living is "so hard for so many", the current level of spending growth within the economy will have to bet cut. READ MORE IN MONEY He explained that current spending at eight per cent and nine per cent was when inflation was between five per cent and 10 per cent, adding the rate of increase of prices is now at around two per cent. The Fine Gael TD made the admission after revealing Budget 2026 will more "more normal" than last years, which contained a He said the €2.2billion spent on these measures last year may be needed to protect public services and keep public finances safe. It is understood that boosts worth up to €1,000 per worker have been dropped from plans for Budget 2026. MOST READ ON THE IRISH SUN Government leaders have agreed on the complete elimination of one-off payments such as energy credits, double welfare and Child Benefit double boosts. The one-off cash boosts have benefited the average worker by about €1,000 each. In their general election manifesto, promised to increase all core welfare payments by €12 annually while committed to increasing the to €350 over the lifetime of the government. But promises may not go ahead, depending on the impact of severe tariffs. Taoiseach Micheal Martin yesterday said uncertainty around tariffs is 'problematic' for Budget preparations and medium-term fiscal planning. He said: "We're keeping everything under review, but in context of this year, we have fair ideas to where revenue will land and where expenditure will land. 'But certainly we're waiting in terms of the midterm framework, the five year programme that has to be submitted to Europe, it is problematic. 'We can't abolish the Budgetary process, we still have to go and prepare the budget, and we have to prepare estimates, and there has to be negotiations and so on. 'And there are very significant downside risks given what's happening and in terms of the tariff threat. 'Potentially, if we've got it resolved it could be an upside, we'll have to wait and see." Yes, the cost of living is still high. I know it's a huge challenge for so many, but we don't have the inflation levels that we had for so many years that necessitated spending billions of euro." Finance Minister Paschal Donohoe Last year's Budget package included two double payments handed out before Christmas, €400 extra for carers, €300 for those on . It also included an additional October cost-of-living double payment as well as the usual social welfare Christmas bonus. In Budget 2024, a €250 energy credit paid out over two instalments was handed to every household across Ireland - but a similar payment looks set to be cut from October's budget. previously told the Irish Sun : "We have said we're going to move away from one off temporary measures. WHAT WAS BUDGET 2025'S COST OF 'LIVING PACKAGE'? THE last budget, which was announced in October, saw thousands of families across the country benefit from cost-of-living measures. The package, which was worth €2.6 billion in total, was the largest social welfare package in the history of the State. It was made up of a mixture of increased payments and once-off lump sums for Other measures in Budget 2025 included an expenditure of €6.9billion and €1.4billion in tax changes. Energy credits were also agreed as part of a €2.2 billion cost-of-living package included in 'I think when we're making decisions we have to consider them in the context of the overall fiscal parameters that we've set out. 'And in that context, there are lots of ways we can support families in the context of fuel poverty or higher energy bills and that will be considered in the round in addition to the overall capital investment in our energy system some of which will be central to the National Development Plan process that will help mitigate some of the otherwise increasing costs as part of any increase in energy bills.' Calls have been made for a to monthly Child Benefit cash in Budget 2025 - but the government have ruled out a payment rise for every single parent. The State have also ruled out a repeat of last year's one-off €280 cash boosts handed out to those eligible for Child Benefit. Instead, Minister for Social Protection Dara Calleary said that his department is "working on" a targeted form of the payment which would allow those who are most vulnerable to top-up on the existing €140-a-month cash. The €140 flat payment would still be paid to everyone, regardless of income. Last year, 1.4 million people benefited from It included €400 for those on the Disability Support Grant or Working Payment, and a €300 lump sum payment for Fuel Allowance-eligible households. WHO BENEFITED FROM DOUBLE PAYMENT? THE double payment was given to those receiving the Back to Education Allowance, Back to Work Enterprise Allowance and the Back to Work Family Dividend. Carers and those with who receive social welfare benefits such as the Blind Pension, Carer's Allowance and Carer's Benefit also got the double boost. But Minister Donohoe warned that the record Social Protection package including 10 lump sum payments He said: "Yes, the cost of living is still high. I know it's a huge challenge for so many, but we don't have the inflation levels - the five per cent and 10 per cent - that we had for so many years that necessitated spending billions of euro to help offset prices going up. "And it is correct, therefore, to say at this point in time that we can't repeat those kind of measures again and we will need to make sure that we have the enhanced strength in our economy and in our public finances to deal with the kind of risks that we're outlining." JOB LOSS FEARS Speaking to RTE this morning, Minister Donohoe said the amount of investment and jobs within Ireland's economy continues to be "very positive". But he said employers and investors are "pausing" decisions due to the level economic uncertainty currently facing the country. The minister said the forecast excluding the impact of 30 per cent tariffs still shows a high level of employment growth within the economy but he said the number of jobs being created are growing at a small pace. If Ireland is slapped with the 30 per cent tariffs, Donohoe said it is important to be honest that the impact on job creation and levels of employment will be worse. He said: "This is a big challenge, we need to have a moment of recognition of that, but we have faced challenges before and we will get through this one too." SOCIAL WELFARE CASH FREEZE Social Justice Ireland has called for the payment rate of jobseekers aged 18 to 24 to be increased to the full adult rate. But Tanaiste ndicated that the Government may at its current level instead of including it in any social welfare increases in the upcoming budget. Warning that there is "only so much money in the pot", he previously told us: "I do always think there is merit in not looking at social welfare payments with uniformity across the board. 'We've been talking a lot about college fees the last couple of days unexpectedly perhaps but roughly speaking the equivalent of €1.20 or €1.25 on every social welfare payment is roughly the equivalent of reducing the college fees by €1,000. Business group IBEC earlier this week urged the government to take a "measured and strategic" approach to the budget later this year. It said a €3 billion package - including €1.3 billion in additional infrastructure spending under the National Development Plan - is "appropriate for Budget 2026". The lobby group warned that tariffs "post a serious threat to Irish business" and said the economic model Ireland has relied on for the past five decades is under serious strain. 3 US President Donald Trump threatened to impose a 30 per cent tariff on EU imports from August 1 Credit: REUTERS/Umit Bektas/File Photo
Irish Independent
4 hours ago
- Irish Independent
Killarney Brewing and Distilling Company to cease operations
An examiner appointed to the company will be making an application to the courts tomorrow regarding the future of the business. It is unclear if this will result in the company entering receivership, but it is understood the production of beer and whiskey at the company will end soon. Huge doubts about its viability had been raised in recent mo nths because of increased running costs, global trading uncertainty, and consequences arising from the pandemic. More than 50 people work at the company's two Co Kerry sites in Killarney and Fossa, and the company supplies drinks to many pubs and hotels in surrounding areas. James Anderson, a partner at Deloitte Ireland, was appointed as interim examiner to KBD in April when the company filed a petition with the High Court after a potential merger with a US partner fell through. Entering examinership was seen as the most viable path to secure its future. It gave the business protection from creditors and a 100-day window for an examiner to put together a rescue package. Ultimately these efforts have been unsuccessful. A spokesman for the examiner said it would not be appropriate to comment at this time. KBD, which has strong US links, started trading in 2015, opening a taproom in Killarney. It expanded in 2022, opening the brewery and visitors' centre in Fossa, on the outskirts of the town. This was funded with about €12m capital raised from investors in 2020. It was hoped the new plant would attract more than 100,000 visitors per year. However, the expansion coincided with the pandemic, and then higher costs for raw materials, supply chain disruption, delays opening the Fossa plant, and global economic uncertainty over tariffs. Last year the company launched a plan to raise up to €7m in funding, but Companies Registration Office filings this year showed it fell well short of this target, raising about €3.5m – mainly via US-based investors. KBD's most recently filed accounts show the business recorded losses of €1.6m in 2022, and €513,000 in 2021. This was despite sales doubling in 2022, hitting €2m and up from €850,000 a year earlier. There is huge uncertainty in the Irish drinks sector due to the imposition of US tariffs on EU imported goods, currently standing at 10pc. Guinness brewers Diageo confirmed last month it has stopped distilling its Roe and Co whiskey. Jameson producer Irish Distillers announced in March that production at Midleton, Co Cork, would pause from April until the summer. Bushmills and Tullamore Dew also reduced production earlier this year. The tariff, in place since April, has made Irish whiskey less competitive against its American rivals on the US market. The threat of an even higher tariff – with Mr Trump suggesting a 30pc levy could be applied from August 1 – has contributed to the decision by up to 90pc of Irish whiskey makers to pause distilling for now.
The Journal
4 hours ago
- The Journal
Donald Trump claims Coca-Cola has 'agreed' to use real cane sugar in drinks
BEVERAGE GIANT COCA-Cola has agreed to use real cane sugar in its US production, President Donald Trump has claimed on social media. The company currently uses high-fructose corn syrup (HFCS) in its domestic beverages — a sweetener that has long drawn criticism from Health Secretary Robert F. Kennedy Jr. and his Make America Healthy Again movement. (In Ireland and the UK, real sugar is used in Coca-Cola drinks). 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,' Trump wrote on his Truth Social platform. 'I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them – You'll see. It's just better!' Donald Trump's post. The US president did not explain what motivated his push for the change, which would not impact his well-known favorite beverage, Diet Coke. Since his return to the White House, Trump has re-installed a special button in the Oval Office which summons a helping of the sugar-free carbonated drink. Coca-Cola did not immediately confirm the ingredient shift. Advertisement 'We appreciate President Trump's enthusiasm for our iconic Coca‑Cola brand. More details on new innovative offerings within our Coca‑Cola product range will be shared soon,' the company said in a short statement. HFCS became popular in the 1970s, with its use skyrocketing thanks to government subsidies for corn growers and high import tariffs on cane sugar. Any shift away from corn is likely to draw backlash in the Corn Belt, a Midwestern region that has been a stronghold of support for Trump. Both HFCS and sucrose (cane sugar) are composed of fructose and glucose. However, they differ structurally: HFCS contains free (unbonded) fructose and glucose in varying ratios — 55/45 in soft drinks — while sucrose consists of the two sugars chemically bonded together. These structural differences, however, don't appear to significantly affect health outcomes. A 2022 review of clinical studies found no meaningful differences between HFCS and sucrose in terms of weight gain or heart health. The only notable distinction was an increase in a marker of inflammation in people consuming HFCS. Overall, both sweeteners appear similarly impactful when consumed at equal calorie levels. Despite this, Mexican Coke – which is made with cane sugar – is often sold at a premium in US stores and prized for its more 'natural' flavor. Trump's prized Diet Coke is sweetened with aspartame -a compound classified as a 'possible carcinogen' by the International Agency for Research on Cancer (IARC). Trump, who is a big fan of the beverage, even has a button installed in his desk that calls for him to be served a Diet Coke.
