Honda and Nissan have signed a memorandum of understanding to begin talks that could lead to the biggest domestic merger in Japanese automotive history and create the world’s third-biggest carmaker by sales.
The Japanese groups said at a press conference in Tokyo on Monday that they aimed to reach a definitive merger agreement by June and complete it in 2026.
The consolidation could also include Mitsubishi Motors, the Japanese carmaker that has been in an alliance with Nissan since 2016. Mitsubishi has signed a separate memorandum of understanding and aims to decide next month whether to join the talks.
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