Japan carmakers Honda, Nissan plan merger amid Chinese EV competition

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Japanese carmakers Honda and Nissan plan to join forces in a merger that would create the world’s third-largest carmaker by sales. Honda’s chief executive Toshihiro Mibe said the merger would put the company in a better position to compete against Chinese carmakers like BYD, and rising US electric vehicle manufacturers like Tesla. Mitsubishi Motors, already a partner of Nissan, also said it was considering joining the capital tie-up.