hybrid and other cleaner propulsion technologies. The fruit of their merger will be born "at full scale from 2030 onwards," according to Honda President and CEO Toshihiro Mibe.

Honda’s CEO struggles to explain why the merger is happening, analysts remain skeptical, and Foxconn waits in the wings.

The potential deal would create a $50 billion company that would be the world’s third-largest automaker by sales volume, ...