Japanese automakers Honda, Nissan and Mitsubishi drop their talks on a business integration

Japanese automakers Honda, Nissan and Mitsubishi are dropping their talks on a business integration. The automakers said Thursday that they agreed on the move. Honda and Nissan announced in December that they were going to hold talks to set up a joint holding company. Mitsubishi Motors was considering joining that group. From the start, the effort had analysts puzzled as to the advantages to any of the companies, as their model lineups and strengths overlap in an industry shaken by the arrival of powerful newcomers like Tesla and BYD, as well as the move to electrification.