Honda and Nissan to launch merger talks [Video]

Japanese auto giants Honda and Nissan on Monday agreed to launch talks on a merger seen as a bid to catch up with Chinese rivals and Tesla on electric vehicles.

Their collaboration would create the world’s third largest automaker, expanding development of EVs and self-driving tech while coming to the rescue of struggling Nissan.

The two firms along with Mitsubishi Motors said they had signed a memorandum of understanding to start discussions on integrating their business under a new holding company.

Citing “dramatic changes in the environment surrounding both companies and the automotive industry”, a joint statement said they planned to list the holding company on the Tokyo Stock Exchange in August 2026.

Honda and Nissan — Japan’s number two and three automakers after Toyota — want to seal the merger deal in June next year, but it’s unlikely to be a marriage of equals.

Honda will nominate the president …