Honda and Nissan have announced plans to explore a merger and establish a joint holding company, which could create the world’s third-largest automaker. Aiming for combined sales of $191 billion, the companies hope to finalize talks by June 2025 and set up the holding company by August 2026. This move reflects significant changes in the auto industry, as both companies face challenges from electric vehicle competition in key markets like China. Former Nissan Chairman Carlos Ghosn expressed skepticism about the alliance’s prospects.