Honda & Nissan agree to discuss merger, create world's third-largest auto group by 2026

Honda and Nissan have agreed to explore a merger and set up a holding company, which would be the world's third-largest auto group, the two Japanese automobile manufacturers announced on Monday. They aim to set up the holding company by August 2026, at which time their shares would also be delisted. Honda will appoint majority of the holding company's board.