Both companies are grappling with intense global competition in the electric vehicle market from the likes of Tesla and China’s BYD.

Renault has cautiously weighed in on the Nissan-Honda merger announcement, saying it “will consider all options based on the best interest of the Group and its stakeholders.” The French carmaker said in a3

Japanese automakers Honda and Nissan have announced plans to join forces, forming world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels.