Honda and Nissan to start merger talks, in hope to compete with Toyota, Tesla and Chinese EV brands

has reported. This could ultimately grow to include Mitsubishi, which would form two camps of Japanese automakers, the other being Toyota which has stakes in

The merger, if materialised, will pool the automaker’s resources for them to better compete against Tesla as well as Chinese electric vehicle makers,said. Honda and Nissan plan to sign a memorandum of understanding for equity stakes in a new holding company under which the resulting combined company would operate,Honda, Nissan and Mitsubishi combined sold around four million vehicles in the first half of this year, whereas Toyota sold 5.2 million vehicles in the same period.

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