Japans Honda and Nissan in preliminary merger talks: reports [Video]

Japanese auto giants Honda and Nissan are in preliminary merger talks, media reports said Wednesday.

A tie-up would help them better compete against Tesla and other electric vehicle makers, the Nikkei, the Financial Times and others said.

The two firms agreed in March to explore a strategic partnership on electric vehicles, a move analysts said was aimed at catching up with Chinese competitors.

A Honda spokesman said Wednesday that a potential merger was already among the possibilities being discussed.

“We are discussing possibilities for cooperation between Honda and Nissan in the future, in a wide range of fields and in various areas, and those possibilities include the latest reports, but there is nothing decided,” the spokesman told AFP.

Nissan said: “The content of the report is not something that has been announced by either companies. As announced in March of this year, Honda and Nissan are exploring various possibilities for …