Honda and Nissan have announced plans to create a joint holding company, potentially becoming the third-largest car manufacturer globally.

The merger aims for combined sales of $191 billion and operating profits over 3 trillion yen.

However, former Nissan CEO Carlos Ghosn expressed doubts about the merger’s success, citing a lack of integration between the companies.

The companies hope to finalize merger talks by June 2025 and establish the holding company by August 2026, at which point both will delist their shares from the stock market.