Honda Motor Co. has proposed a plan to buy shares in Nissan Motor Co. to make it a subsidiary, people familiar with the matter said Tuesday.
Honda apparently aims to increase its involvement in Nissan’s management to help accelerate its turnaround efforts.
It is, however, unclear whether the proposal will be accepted by Nissan, which is strongly opposed to Honda taking control of its management.
In December, the two Japanese automakers said that they would start talks on establishing a holding company to merge their operations.
However, Nissan has been struggling to compile a restructuring plan, a move that Honda sees as necessary to go ahead with their merger.
Jiji Press
