Honda and Nissan to begin merger talks

TOKYO: Japanese auto giants Honda Motor and Nissan Motor will enter negotiations for a merger and join their resources to better compete against bigger global electric vehicle makers, the Nikkei newspaper reported on Tuesday.

The two companies are looking to operate under a single holding company and are expected to soon sign a memorandum of understanding for the new merged entity, the report added.

The move comes as tough competition from Chinese EV makers add pressure on legacy...