Honda and Nissan agreed last month to launch talks on the tie-up, which is seen as an attempt to catch up with Chinese rivals and Tesla.
: Shares in Japanese automaker Mitsubishi Motors plunged nearly nine percent Friday after a report said it might not join a planned merger between industry giants Honda and Nissan.
The two firms, along with Mitsubishi Motors, said they had signed a memorandum of understanding to start discussions on integrating their businesses under a new holding company. With a much smaller market capitalisation than Honda and Nissan, Mitsubishi Motors is worried that being absorbed by the holding company could undermine its management autonomy, the Yomiuri said. Mitsubishi Motors is partly owned by Nissan.
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