Honda and Nissan have officially confirmed rumors that they’re pursuing a merger, the companies wrote in a joint press release. Each would continue to operate under its own brand, but with a new joint holding company as parent. If Nissan-controlled Mitsubishi also came on board, the combined group would become the world’s third largest automaker by sales volume and have a net worth of up to $50 billion.
“Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future,” said Nissan CEO Makoto Uchida.
Integration talks are
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