Honda has worked with GM in a series of collaborations that did not involve any exchange of corporate equity. In 1993, GM controlled Isuzu and signed a deal to supply its Rodeo to become Honda’s first SUV,

Facing extreme competitive pressure from the rise of Chinese EV makers, the Nos. 2 and 3 Japanese automakers turn to each other to build strength.

Rumors have it that Japan’s Ministry of Economy, Trade and Industry helped to influence the deal to avoid Foxconn's takeover of Nissan after METI endorsed the merger. This set off alarms for scorned ex-Nissan CEO Carlos Ghosn who is watching the unknown unfold from the sidelines.

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.

Speculation about a potential Honda and Nissan merger began earlier this month, and the two companies confirmed the official start of talks Monday.

Japanese automakers Honda and Nissan have announced plans to join forces, forming world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels.

The potential merger could help boost the auto companies production of electric vehicles amid growing changes in the car industry.

"It's not a pragmatic deal because frankly, the synergies between the two companies are difficult to find," Ghosn told Bloomberg.

Japanese automakers Nissan and Honda have announced plans for a merger that would catapult them to a top position in an industry that's in flux as it transitions away from its reliance on fossil fuels.

"Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future,” said Nissan Director, President, CEO, and Representati