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Nissan and Honda officially announce plans to merge

Honda and Nissan have officially confirmed rumors that they're pursuing a merger, the companies wrote in a joint press release.

"Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future," said Nissan CEO Makoto Uchida. According to the press release, the plan includes: standardizing vehicle platforms; unifying research and development teams; and optimizing manufacturing systems and facilities. Nissan sells large pickup trucks and SUVs in the US that Honda doesn't offer and also has more experience in EVs and plug-in electric vehicles.

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