Honda and Nissan have announced plans to move forward on a merger that could be finalized in summer 2025 and would yield the world’s third-largest automaker by sales, the Associated Press reports.

Nissan and Honda

Nissan Motor CEO Makoto Uchida (left) and Honda Motor CEO Toshihiro Mibe attend a joint press conference on March 15, 2024, in Tokyo. 

Relatedly, fellow Japanese automaker Mitsubishi, which has been aligned with Nissan since 2016, will join the merger discussions.