Japanese manufacturing giants Honda and Nissan have announced plans to merge, forming the third-largest global car maker. Volkswagen and Toyota are currently the world's leaders in terms of car sales, however, a Honda-Nissan merger would see it become a major rival. Honda and Nissan have confirmed that a memorandum of understanding has been signed, which would include Mitsubishi Motors in the talks as the latter is a Nissan Alliance member. Several Japanese manufacturers have struggled in the electric vehicle (EV) market compared to its major rivals, with a key idea behind the merger being to cut costs. If the merger is finalised, the value of the company - should all three manufacturers join - will be in the region of $50 billion, based on the market value of each brand. According to Honda president, Toshihiro Mibe, it [Honda] would initially lead the new company whilst retaining the brands and principles of each separate organisation. The merger target is for a completion date of August 2026, however, Mibe also noted it could yet collapse. It was already announced in August that Honda, Nissan and Mitsubishi would share components for EV vehicles. By the end of 2023, main rival Toyota had sold 3.5 million EV vehicles, more than the three manufacturers combined. How the merger would impact the trio's motorsport programmes has yet to be announced. Honda, of course, is an OEM in F1 and will partner Aston Martin when the 2026 engine regulations are introduced. Nissan is an OEM in Formula E. Interestingly, Honda and Nissan are rivals in Super GT.
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