Former Nissan Motor Co. Chairman Carlos Ghosn, who fled Japan while awaiting trial on charges of financial misconduct, said Monday th

Speculation about a potential Honda and Nissan merger began earlier this month, and the two companies confirmed the official start of talks Monday.

"It's not a pragmatic deal because frankly, the synergies between the two companies are difficult to find," Ghosn told Bloomberg.

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Former Nissan chief Carlos Ghosn on Monday said the struggling Japanese automaker was in "panic mode" as it prepares to start talks on a merger with industry arch-rival Honda . Ghosn was arrested in Japan in 2018 on suspicion of financial misconduct,

Former Nissan CEO Carlos Ghosn / When I look at the complementarity between Nissan and Honda, I see none. They are

Carlos Ghosn explained why it's a bad move for Nissan to merge with Honda in a recent interview. Find out more.

Former Nissan CEO Carlos Ghosn doubts the success of a potential merger between Honda and Nissan, highlighting a lack of complementarity between the firms. Talks of integration are underway as both companies aim to adapt to industry changes.

Ghosn also mentioned that the potential merger lacks complementarity, suggesting that any synergies would come from cost reductions, including cutting duplicated plans and technologies. He warned that Nissan would bear the brunt of these cuts as the "minor partner" in the arrangement.