automakers as part of the Nissan-Renault-Mitsubishi alliance, has been residing in Lebanon after being arrested in Japan in November 2018 and fleeing trial on charges of financial crimes. He denies misconduct. “There is practically no complementarity here, which means, if they want to make synergy it is going to be through maybe cost reduction, duplication of plan, duplication of technology, and we know exactly who’s going to pay the price of it. It’s going to be the minor partner, and it’s going to be Nissan,” Ghosn said. Nissan had greater complementarities with France’s Renault , Ghosn estimated, referencing a long-standing partnership that has been largely unwound. Long-term vision is set, but post-merger integration holds key to Honda, Nissan dealwatch now VIDEO03:14 While vision is set, post-merger integration holds key to Honda, Nissan deal Speculation about a potential Honda and Nissan merger began earlier this month, and the two companies confirmed the official start of talks over a business integration during a news conference on Monday. Under current proposals, a holding company would act as the parent of both firms and be listed on the Tokyo Stock Exchange, with Honda — which has a market capitalization around four times that of Nissan — nominating most board members of the new entity. Nissan’s strategic partner Mitsubishi is also engaged in talks over joining the group. A $54 billion Nissan-Honda group would leapfrog South Korea’s Hyundai to become the world’s third-largest automaker by vehicle sales, behind Japan’s Toyota and Germany’s Volkswagen . The integrated group would also represent a landmark in automotive industry consolidation, which has been long expected in both Japan and worldwide as businesses struggle to shoulder the development costs of electric vehicles and autonomous driving technology.