[Number 3]

Considering the government tried to convince GM to take Chrysler in the bankruptcy, I guess anything is possible.

However there is no advantage until you eliminate redundancies. This merged company wouldn’t need a Camaro and a Mustang. It sure wouldn’t want to invest 3 Billion for a new GM pickup and then another 3 Billion for a Ford.

The resultant company would simply start slashing models to reduce costs.

Now 30 years from now when an EV powertrain eliminate one major differentiator and people are renting/sharing transportation, who knows.