Honda Motor and Nissan Motor are reportedly in the process of merging their companies and are set to start negotiations soon, according to Japanese media.The news, which was first reported by the Nikkei newspaper on Tuesday, comes as both auto giants struggle to compete with the largest global electric vehicle makers, including Tesla and Chinese automaker BYD.The merger plans have not been confirmed by either company.
MILLIONS OF CAR OWNERS ARE DELAYING MAINTENANCE REPAIRS AS COSTS RISEHonda and Nissan are the second and third-largest auto manufacturers in Japan, respectively, with Toyota leading them both.The respective market capitalizations of Honda and Nissan are roughly 5.95 trillion yen and 1.17 trillion yen .GET FOX BUSINESS ON THE GO BY CLICKING HEREIn November, Nissan cut its global workforce by 9,000 in a set of massive layoffs, diminishing its global production capacity by 20%.
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