Honda, Nissan, and Mitsubishi are joining forces to operate together under a single holding company, in a bid to stave off fierce competition around the world.

Mitsubishi President Takao Kato is considering joining the business integration talks between Honda and Nissan.

The Honda-Nissan merger looks increasingly inevitable. The situation has come together rapidly. Reports in late November indicated the automaker only had a year’s worth of money to survive. The company was looking for a major investor to keep things going,