TOKYO — Japanese auto giants Honda and Nissan are in preliminary merger talks, according to media reports Wednesday, adding that a tie-up would aim to help them better compete against Tesla and Chinese electric vehicle makers.
Shares in Nissan soared more than 20 percent on the stories in the Nikkei, Financial Times and others, while Honda dipped more than two percent. Mitsubishi Motors -- of which Nissan the top shareholder -- gained 13 percent.