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Honda, Nissan inform Japan gov't of planned merger talks
Honda Motor Co. and Nissan Motor Co. have informed the Japanese government of their plan to start talks on a merger, a government official says, in what would create the world's third-largest automaker group to take on U.S. and Chinese rivals in the electric vehicle market.
But Honda, Nissan and other Japanese automakers have lagged behind competitors such as Tesla Inc. of the United States and China's BYD Co. Honda and Nissan agreed in March to launch a feasibility study on a strategic EV production partnership, including related software technology development, to cut costs and improve competitiveness. The Honda-Nissan alliance would be the latest in a series of tie-ups among major automakers, with the group's annual sales reaching around 8 million vehicles if those of Mitsubishi Motors are included.
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