After the companies couldn’t agree on a multibillion-dollar partnership, Honda and Nissan’s merger negotiations broke down.
Together with its junior partner Mitsubishi, the Japanese automakers had sought to merge their companies in order to combat competition from other companies, particularly in China.
A $60 billion (£48 billion) auto business would have been formed by the merger, ranking fourth globally in terms of vehicle sales behind Toyota, Volkswagen, and Hyundai.
The businesses said that they would keep working together on electric cars.
According to expert Karl Brauer of the internet research site iSeeCars.com, the merger’s collapse was not entirely unexpected.
“Plenty of automotive mergers have not worked out, and this one had as much potential for disaster as it did to help both brands,” he stated.
