Honda Motor and Nissan Motor announced on Monday that they have begun negotiations for a possible merger, with Mitsubishi Motors also considering joining. Based on vehicle sales, this integration will create the third largest automotive group globally, only behind Toyota and Volkswagen. Nissan is the largest auto manufacturer in Japan, while Honda is the second largest. This merger will mark the largest restructuring in the global automotive industry since Fiat Chrysler Automobiles and PSA merged to create Stellantis for $52 billion in 2021. The goal of both companies is to achieve total sales of 30 trillion yen ($191 billion) and more than 3 trillion yen in operating profit through a potential merger, aiming to complete negotiations around June 2025, and then establish a holding company before August 2026, at which point the stocks of both companies will be delisted. Honda will appoint the majority of members of the holding company's Board of Directors.