Japanese automakers Nissan and Honda have officially begun merger discussions aimed at creating the third largest automotive company globally by sales. The talks, which are expected to be finalized by June 2025, were announced by Honda CEO Toshihiro Mibe, who emphasized the need for greater scale to compete in electric vehicle and smart driving technologies. The new entity, which will be based in Japan, could generate revenues of approximately $191.4 billion. Mitsubishi has also been invited to join the merger.