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國際時事跟讀 Ep.K915: Japanese Auto Giants Unite to Challenge China's EV Dominance

Highlights 主題摘要：

The merger between Honda and Nissan is primarily driven by the need to compete with Chinese automakers' dominance in the electric vehicle market, with a critical deadline of establishing competitiveness by 2030.
Nissan's financial struggles, including a 94% profit drop and 9,000 job cuts, make this merger particularly crucial for its survival, as the company faces significant debt payments coming due in 2026.
While the merged entity would become the world's third-largest automaker behind Toyota and Volkswagen, historical challenges in automotive mergers and potential cultural differences pose significant risks to its success.

In a groundbreaking development for the global automotive industry, Japanese car manufacturers Honda and Nissan have announced plans to merge their operations, potentially creating the world's third-largest automaker. This strategic move, which also includes Mitsubishi, aims to strengthen their position against the rising dominance of Chinese competitors in the electric vehicle market. The merger talks, scheduled over the next six months, represent a significant shift in the automotive landscape and highlight the increasing pressure on traditional car manufacturers to adapt to changing market dynamics. With combined resources and expertise, the merged entity would trail only Toyota and Volkswagen in global sales volume.

在全球汽車產業的一個突破性發展中，日本汽車製造商本田（Honda）和日產（Nissan）宣布計劃合併營運，有望成為全球第三大汽車製造商。這項策略性行動也包含三菱（Mitsubishi），旨在加強其對抗中國競爭者在電動車市場日益增長的主導地位。合併談判將為期六個月，代表著汽車產業版圖的重大轉變，並凸顯傳統汽車製造商面臨適應市場動態變化的壓力。憑藉合併後的資源與專業知識，這個新實體的全球銷售量將僅次於豐田（Toyota）和福斯（Volkswagen）。

The driving force behind this historic alliance is the urgent need to compete with Chinese automakers, who have rapidly gained market share in the electric vehicle sector. Honda's CEO, Toshihiro Mibe, emphasized that without establishing a robust strategy by 2030, Japanese manufacturers risk losing their competitive edge. The combined annual sales of Honda and Nissan exceed $191 billion, demonstrating the substantial scale of this potential merger. This consolidation would provide the companies with shared resources and enhanced capabilities to develop advanced electric vehicle technologies, crucial for maintaining their market presence. The merger also represents a strategic response to the Chinese automotive industry's advantages in manufacturing costs and pricing flexibility.

促使這個歷史性聯盟的驅動力，是與中國汽車製造商競爭的迫切需求，因為中國在電動車領域的市占率正快速成長。本田執行長三部敏宏（Toshihiro Mibe）強調，若不能在 2030 年前建立穩健的策略，日本製造商恐將失去競爭優勢。本田和日產的年度合併銷售額超過 1,910 億美元，展現了這項潛在合併案的龐大規模。這次整併將為這些公司提供共享資源和增強開發先進電動車技術的能力，這對維持市場地位至關重要。這次合併也代表了對中國汽車產業在製造成本和價格彈性優勢的策略性回應。

The timing of this merger is particularly significant for Nissan, which has faced considerable challenges in recent years. The company's profits have declined dramatically, leading to an announcement of 9,000 job cuts and a 20% reduction in manufacturing output. These difficulties stem partly from the aftermath of former CEO Carlos Ghosn's controversial departure and the subsequent dissolution of its alliance with Renault. Industry analysts suggest that without this merger, Nissan might face severe financial difficulties by 2026, when significant debt payments come due. The partnership with Honda could provide the stability and resources necessary for Nissan's long-term survival in an increasingly competitive market.

這次合併的時機對日產特別重要，因為該公司近年來面臨重大挑戰。公司利潤大幅下降，導致宣布裁員 9,000 人，並減少 20% 的製造產能。這些困境部分源於前執行長戈恩（Carlos Ghosn）爭議性離職的後續影響，以及與雷諾（Renault）結盟的解散。產業分析師指出，若沒有這次合併，日產可能在 2026 年面臨嚴重的財務困境，因為屆時將有大筆債務到期。與本田的合作夥伴關係可能為日產在日益競爭的市場中提供長期生存所需的穩定性和資源。

The proposed merger, however, faces several challenges and uncertainties. Historical precedents in the automotive industry show that mergers don't always succeed, as demonstrated by past failures like the Daimler-Chrysler partnership. Additionally, the deal must navigate complex regulatory approvals and potential cultural differences between the companies. Despite these challenges, industry experts, including Morgan Stanley analyst Adam Jonas, suggest that this consolidation trend might continue throughout the automotive sector. The increasing costs of developing electric vehicles and the need to achieve economies of scale make such partnerships increasingly attractive for traditional automakers seeking to remain competitive in a rapidly evolving market. The success of this merger could potentially trigger a wave of similar consolidations across the global automotive industry, reshaping the competitive landscape for decades to come.

然而，這項提議的合併仍面臨諸多挑戰和不確定性。汽車產業的歷史先例顯示，合併並非總能成功，就像戴姆勒－克萊斯勒（Daimler-Chrysler）合作的失敗案例。此外，這項交易必須通過複雜的法規審批，並克服公司之間潛在的文化差異。儘管面臨這些挑戰，包括摩根史坦利（Morgan Stanley）分析師亞當．喬納斯（Adam Jonas）在內的產業專家表示，這種整併趨勢可能會在整個汽車產業持續發展。開發電動車的成本增加以及實現規模經濟的需求，使這類合作關係對尋求在快速演變的市場中保持競爭力的傳統汽車製造商越來越具吸引力。這次合併的成功可能引發全球汽車產業的一波類似整併浪潮，重塑未來數十年的競爭格局。

Keyword Drills 關鍵字：

Vehicle (Ve-hi-cle) [noun. a car, truck, or other machine that takes people or things from one place to another]: The merger talks represent a significant shift in the automotive landscape as traditional car manufacturers adapt to changes in electric vehicle markets.
Establishing (Es-tab-lish-ing) [verb. starting or creating something that will last for a long time]: Honda's CEO emphasized that without establishing a robust strategy by 2030, Japanese manufacturers risk losing their competitive edge.
Consolidation (Con-sol-i-da-tion) [noun. the process of joining or combining things together]: This consolidation would provide the companies with shared resources and enhanced capabilities to develop advanced electric vehicle technologies.
Dissolution (Dis-so-lu-tion) [noun. when an organization or relationship officially ends]: These difficulties stem partly from the aftermath of former CEO Carlos Ghosn's controversial departure and the subsequent dissolution of its alliance with Renault.
Reshaping (Re-shap-ing) [verb. changing the form or structure of something]: The success of this merger could potentially trigger a wave of similar consolidations across the global automotive industry, reshaping the competitive landscape for decades to come.

Reference article:
1. https://www.bbc.com/news/articles/cwy3ljvv93lo
2. https://edition.cnn.com/2024/12/23/business/nissan-honda-merge-automakers-intl-hnk/index.html

國際時事跟讀 Ep.K915: 日本汽車巨頭攜手挑戰中國電動車主導地位 Japanese Auto Giants Unite to Challenge China's EV Dominance

通勤學英語 15Mins Today