As the two Japanese companies look to counter the rivalry from the Chinese auto industry, Honda and Nissan intend to unite.
Together, Toyota, Volkswagen, General Motors, and Ford would form one of the largest automakers in the world.
Toshihiro Mibe, the CEO of Honda, stated that the idea was mostly motivated by the possibly billions dollar agreement to counter “the rise of Chinese power.”
According to Mr. Mibe, they must have a strategy in place by 2030 to “fight back” or risk being “beaten” by competitors.
All three businesses would be able to pool resources against rival electric vehicle manufacturers like Tesla as a result of the merger, which would include Mitsubishi, of which Nissan is the largest stakeholder.
The market for the expanding electric vehicle has become more and more dominated.
