Toronto, Ontario — Automakers Nissan and Honda have announced plans to enter negotiations for a merger that further includes Mitsubishi Motors, in an attempt to help the companies compete in the growing electric vehicle market.
This announcement specifically follows the Japanese automakers entering a strategic partnership in August to share automotive components and software.
And, as further noted by Reuters, in the event of a merger between the automakers, this move would likely be the largest in automotive industry history since the $52 billion deal between Fiat Chrysler and PSA Groupe in January 2021, which led to the formation of Stellantis.
In 2023, Nissan and Honda sold a combined number of 7.4 million vehicles globally, with Mitsubishi selling just over 800,000
