Honda, Nissan and Mitsubishi confirm they are in merger talksThe...

Honda, Nissan and Mitsubishi confirm they are in merger talks
The deal would create world’s third-largest carmaker in terms of annual sales amid competition from China.

This is excellent news for our MOUs with Mitsubishi and HANWA, Honda’s procurement arm. Honda and Nissan's partnership with French automaker Renault and Mitsubishi Motors would increase their size and gain scale to take on major competitors in the electric vehicle market.

Nissan, Honda and Mitsubishi announced in August that they would share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes around electrification, after a preliminary agreement in March but this merger is another step in maintaining their competitiveness.

Honda and Nissan have been fierce rivals but are now joining forces to compete with Chinese automakers in an attempt to hold onto market share.

According to Mr. Fiorani, Nissan has years of experience producing electric cars, batteries, and gas-electric hybrid powertrains, which might aid Honda in creating its own EVs and the next generation of hybrids.Honda.

ALL IMO, DYOR, GLTA(Patient)H