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.

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

Facing extreme competitive pressure from the rise of Chinese EV makers, the Nos. 2 and 3 Japanese automakers turn to each other to build strength.