Honda and Nissan begin merger talks

Tokyo. Honda and Nissan have begun talks on a possible merger, a historic move for the Japanese auto industry that highlights the threat Chinese manufacturers pose to some of the world’s best-known automakers. Honda and Nissan announced that they want to close the merger agreement in June of next year, but this deal probably does not involve a union of equals. Honda will have the power to appoint the president of the new conglomerate, whose board of directors will be made up mostly of executives from this company, according to the joint statement. The companies, numbers 2 and 3 in the Japanese automobile market, face demand difficulties.