TOKYO (Reuters) - Honda ( HMC ) and Nissan ( NSANF ) are expected on Monday to announce the start of business integration talks, according to Japanese media reports, as the automakers look to survive a rapidly changing industry landscape.

The two automakers will likely host board meetings on Monday about the talks and later hold a joint press conference, where Nissan's ( NSANF ) alliance partner Mitsubishi Motors ( MMTOF ) is also expected to attend, the reports said.

A merger of the three Japanese brands would create the world's No. 3 auto group by vehicle sales after Toyota and Volkswagen, in what would be the biggest industry-reshaping deal since the 2021 formation of Stellantis.

Honda ( HMC ) and Nissan ( NSANF ) have been exploring ways to bolster their partnership, including setting up a joint holding company, as they face growing challenges from Tesla and Chinese rivals, Reuters reported last week. Nissan ( NSANF ) last month announced a plan to cut 9,000 jobs and 20% of its global production capacity after its sales plunged in its key China and U.S. markets.

Forms of collaboration being discussed also include Honda's ( HMC ) supply of hybrid vehicles to Nissan ( NSANF ) and the joint use of Nissan's ( NSANF ) car assembly factory in Britain, Kyodo News reported on Saturday.

French automaker Renault, Nissan's ( NSANF ) largest shareholder, is open in principle to a deal and would examine all the implications of a tie-up, sources have said.

Taiwanese manufacturer Foxconn had approached Nissan ( NSANF ) about a potential bid but paused its interest after it sent a delegation to meet with Renault in France, Bloomberg News reported on Friday.