Japanese giants Honda and Nissan are set to hold merger talks, according to a report by financial newspaper Nikkei.
The two firms announced plans to work together in order to co-develop electric vehicle platforms and batteries in a bid to take on increasing competition in the EV market.
According to Nikkei, the two firms are looking at joining forces under a single holding company. The paper added that Mitsubishi Motors, which Nissan holds a 24 per cent stake in, could also be included in the new group.
