Money / Honda They Plan to Create World's No. 3 Automaker Honda and Nissan plan to merge in 2026 By John Johnson, Newser Staff Posted Dec 23, 2024 10:53 AM CST Copied Nissan Chief Executive Makoto Uchida, left, Mitsubishi Motors CEO Takao Kato, center, and Honda Chief Executive Toshihiro Mibe leave a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024. (AP Photo/Eugene Hoshiko) See 4 more photos The leaders of Honda and Nissan on Monday detailed their plans to merge into the third largest automaker in the world in 2026. Assuming all goes according to plan, the new company would roll out about 8 million cars a year based on current production numbers, behind only Toyota and Volkswagen, reports the AP. Their total would include Mitsubishi, which already partners with Nissan. The merger is pitched as a way to better adapt to a fast-changing industry, particularly in regard to electric vehicles, per the New York Times. Tesla and China's BYD have been taking an ever-bigger share of the market. However, the Wall Street Journal reports that something else might be going on as well: Critics including former Nissan chief Carlos Ghosn say the Japanese government is pushing the merger in order to save Nissan. "Do they force somebody? No, they won't force, but they can give you arguments that you cannot refuse," he said from Lebanon, where he fled to avoid financial charges in Japan. The leaders of both companies deny the allegation, though the Journal notes that Honda chief executive Toshihiro Mibe "struggled" on Monday when asked to explain why the relatively healthy Honda would pair with the struggling Nissan. He told reporters Honda would remain an independent brand before adding, "I don't know if that was an answer." (More Honda stories.) See 4 more photos Report an error