Honda and Nissan plan to merge as the two Japanese firms seek to fight back against competition from the Chinese car industry. The integration would create one of the world's biggest car producers alongside Toyota,

Nissan and Honda have announced plans to merge by 2026 in a seismic shift for the Japanese auto industry. The two carmakers signed a memorandum of understanding that allows them to continue discussions about integration via a joint holding company,

Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels

This move comes as the industry transitions away from fossil fuels and towards electric vehicles, where Japanese companies have lagged behind their rivals.

Japan's Honda and Nissan said Monday they had embarked on formal merger talks that would create the third-largest car manufacturer globally with sales of as much as $191.4 billion and more than $19 billion profit.

Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming world’s third-largest automaker by sales.