Nissan, Honda confirm talks on closer collaboration but say there's been no decision on a merger

News

Nissan, Honda confirm talks on closer collaboration but say there's been no decision on a merger

2024-12-18 13:26 Last Updated At：13:30

BANGKOK (AP) — Japanese automakers Nissan Motor Corp. and Honda Motor Co. confirmed Wednesday that they are discussing closer collaboration but denied reports they have decided on a merger.

Nissan’s share price soared more than 22% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the world’s third-largest automaking group. Honda’s share price fell as much as 3%.

The reports said that Nissan alliance member Mitsubishi Motors Corp. was included in the talks.

All three Japanese automakers announced in August that they planned to share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Honda, Japan's second-largest automaker, and Nissan, third largest, was announced in March.

Trading in Nissan’s shares was suspended but then resumed after the companies jointly issued a statement saying they were “considering various possibilities for future collaboration, but no decisions have been made.”

A merger could result in a behemoth worth about $55 billion based on the market capitalization of all three automakers.

Joining forces would help the two companies gain larger scale to compete with Japan's market leader Toyota Motor Corp. and with Germany’s Volkswagen AG.

Nissan has an alliance with Renault SA that is under review. Last month, it said it was slashing 9,000 jobs, or about 6% of its global work force, and reducing global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen ($61 million).

Earlier this month it reshuffled its management and its chief executive, Makoto Uchida, took a 50% pay cut to take responsibility for the financial woes.

He said Nissan needed to become more efficient and respond better to market tastes, rising costs and other global changes.

Honda reported its profits slipped nearly 20% in the first half of the April-March fiscal year from a year earlier, as sales suffered in China.

The ascent of Chinese automakers is shaking up the industry at a time when manufacturers are struggling to shift from fossil fuel-driven vehicles to electrics.

Toyota made 11.5 million vehicles in 2023, while Honda rolled out 4.2 million and Nissan produced 3.4 million. Mitsubishi Motors made just over 1 million. Even after a merger Toyota would remain the biggest Japanese automaker.

Giannis, Bucks use 3-point barrage to beat Thunder 97-81 for NBA Cup title

2024-12-18 13:13 Last Updated At：13:20

LAS VEGAS (AP) — Everyone has a lucky number in Las Vegas. For the Milwaukee Bucks, it was 3.

And the NBA Cup was their prize.

Tournament MVP Giannis Antetokounmpo scored 26 points to go along with 19 rebounds and 10 assists, Damian Lillard added 23 points and the Bucks connected on 17 3-pointers on the way to beating the Oklahoma City Thunder 97-81 in the NBA Cup title game on Tuesday night.

“Everybody did their job," Lillard said. “We defended. We played well from the start of the game all the way through the finish. I think it just showed what we've been building. I think it all came out in our biggest game to this point.”

Brook Lopez and Gary Trent Jr. each scored 13 for the Bucks, who joined the Los Angeles Lakers as the only champions of the 2-year-old event. A 19-5 Milwaukee run in the second half turned what was a five-point game into a 19-point game early in the fourth, and the Bucks kept control the rest of the way.

“It's great, it's great for our team,” Antetokounmpo said. “We're getting better. ... We know we're leaving Vegas as a better team. I'm so proud of this group. Man, I'm so proud of this group.”

Shai Gilgeous-Alexander scored 21 and Jalen Williams added 18 for the Thunder, who had scored at least 99 points in every game this season. But they sputtered in plenty of ways Tuesday, getting outscored 51-15 from beyond the arc and shooting only 34%.

“We didn't shoot it well,” Gilgeous-Alexander said. “But that's never an excuse. ... We've shot bad and won games before, so that's not an excuse.”

Isaiah Hartenstein had 16 points and 12 rebounds for Oklahoma City, which was held to 31 points after halftime.

“We did some good things. We outscored them in the paint so obviously we did the job defensively on that end,” Thunder coach Mark Daigneault said. “But obviously a tough night offensively all the way around for us. We didn't score nearly enough points, especially in the second half, to give ourselves a chance to win. But we can learn from it, move forward here.”

It’s a game that only counted for tournament purposes. There was about $300,000 in additional bonus money for Bucks players — they got $514,971 apiece, while the Thunder players got $205,988 each — but the win, the loss and the statistics from the game won’t count toward the regular season.

Mired toward the bottom of the NBA after a 2-8 start, the Bucks have been on a tear since. This was their 13th win in their last 16 games, even though it won't be part of the official record.

No matter: When the Bucks emptied their bench with 1:37 left, Antetokounmpo pumped his fists like it was a true championship moment.

He's won bigger games — he and the Bucks captured the 2021 NBA title, after all. But they said from the outset of this tournament that the NBA Cup was a priority.

And they left no doubt in the end.

“We struggled coming out of the gates,” Bucks coach Doc Rivers said. “No one here doubted what we can be and who we can be and we just hung in there. We stuck together and this is the byproduct of a team sticking together. But we still have work to do.”

Antetokounmpo was even more succinct: “Job's not done,” he said.

His point was clear: There's another title to chase in June. But this was still a trophy moment to celebrate.

Bucks: Milwaukee played without guard Khris Middleton (non-COVID illness) and still improved to an NBA-best 12-1 in NBA Cup games, including a perfect 7-0 this season. The Bucks' only in-season tournament loss was to Indiana in last year's semifinals.

Thunder: It was a rare night of playing uphill for Oklahoma City, which trailed by as many as 20. The Thunder trailed by more than 14 points in only two of their 25 games so far in the regular season — getting down by 30 against Golden State and by 21 to San Antonio.

No fewer than five players ended up on the floor, all scrapping for a loose ball with 9:12 left in the third quarter. Thunder forward Lu Dort was hit with a technical, Daigneault got another a few seconds later and Lillard ended up with a five-point possession — two free throws for the techs, followed by a 3-pointer.

The Thunder are 20-1 this season when leading after three quarters. They're now 0-5 when tied or trailing going into the final quarter (even though it will officially be 0-4 since this game won't be counted).

The Thunder visit Orlando on Thursday and Miami on Friday. The Bucks visit Cleveland on Friday and host Washington on Saturday.

AP NBA: https://apnews.com/hub/NBA