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Mitsubishi Motors not to join Honda-Nissan merger: source
Mitsubishi Motors Corp. is considering not joining the planned merger between Nissan Motor Co. and Honda Motor Co. and instead focusing on strengthening cooperation with the two larger firms, a source close to the matter said Friday.
The development reflects Mitsubishi Motors' fears of losing management control if it joins the Nissan-Honda merger under a holding company. Doubts over the synergistic effect of a merger between Honda, Nissan and Mitsubishi Motors persist, at a time when competitiveness in the auto industry shifts toward development of electric vehicles and software, areas where all three automakers struggle. While the merger involving Mitsubishi Motors would have helped gain leverage against Chinese rivals in Southeast Asia, among other merits, some inside Honda and Mitsubishi Motors have voiced wariness about Nissan's progress of its business turnaround, a condition Honda has set to realize the merger.
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