Honda and Nissan recently announced the start of merger talks. Honda CEO Toshihiro Mibe stated at a joint press conference on Monday that the full effects of the synergies may not be realized until after 2030, and they must strengthen their ability to compete with Chinese rivals, or they will face the risk of being "defeated." Analysts question whether Honda and Nissan have enough time, as their biggest obstacle currently may be their vehicle lineup, and their competitiveness in the electric vehicle sector is not particularly strong. Morningstar senior analyst Vincent Sun said, "Both companies lack compelling electric vehicle products, and the merged company will still face challenges in developing new electric vehicle models and technologies. It may take longer than expected to repair this business." Standardized auto platforms will generate cost synergies, but it will also take time to develop.