Japanese Auto Giants Honda, Nissan, and Mitsubishi in Merger Talks

HONDA, Nissan and Mitsubishi have confirmed they are in talks over a three-way merger that could potentially form the world’s third-largest carmaker. The Japanese trio are looking to join forces after all three have experienced falling sales and intense competition from overseas - especially from car brands in China.

Honda currently doesn't have a car plant in Europe, but all that could change if the plans to merge with Nissan go throughBoth Honda and Nissan, Japan’s second and third-largest carmakers respectively, said they had agreed to “start consideration toward a business integration through the establishment of a joint holding company' in a joint press conference in Tokyo on Monday.Combined, the three would create the world’s third-largest carmaker in terms of annual sales, placing them only behind Toyota and Volkswagen.Nissan famously operates from Sunderland, in what is the company’s primary European outpost, and the merger could mean the two brands will be able to use each other's plants to build vehicles. Recent reports have suggested that Nissan was 'on the brink of collapse' with warnings from bosses that it may only have a year of survival left in its current form.And in the end, we need Japan and the US to be generating cash.' In general, Japan’s carmakers—aside from Toyota—have been struggling to come up with the money to switch from designing and building petrol and diesel motors to cleaner electric vehicles. But Chinese manufacturers, such as BYD, have become outliers in the car industry by prioritising the production of EVs. Honda’s chief executive, Toshihiro Mibe, spoke of the recent industry change and the challenges it posed to carmakers at a joint press conference in Tokyo.'We have to build up capabilities to fight with them by 2030, otherwise we'll be beate

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