Shares of Nissan Motor surged 23.7% following reports of merger talks with Honda Motor, aiming to tackle the EV market.
Nissan's share price saw its best performance while Honda shares dipped 3%, and Mitsubishi Motors rallied as part of the proposed plan.
Nissan acknowledged exploring potential collaborations but no official decisions have been made regarding the merger.
A merger with Honda would benefit Nissan's financial underperformance and provide a fresh strategic direction, while Honda would gain access to shared technology.