Nissan Motor Co. is pulling out of its deal with Honda Motor Co. to combine both brands and regain global competitiveness, the Nikkei newspaper reported Wednesday.

Two of Japan’s largest automakers have been in talks to combine their operations to form one of the world’s biggest car groups.

Nissan is still holding “various discussions” with Honda, the carmaker said Wednesday in response to media reports that it is set to scrap merger talks with its larger rival. The two Japanese companies announced in December that they would conduct negotiations over the following six months on a possible merger,

There's strife of the horizon as Nissan vehemently opposes Honda's suggestion of making the struggling carmaker its subsidiary.

The landmark EV merger, which would create the world’s third-largest automaker, may not happen after all. Honda and Nissan’s

Nissan shares plunged on Wednesday as reports said the struggling Japanese carmaker was walking away from merger talks with rival Honda . The Nikkei business daily and other local media earlier said Honda had proposed making Nissan its subsidiary,

A proposed $58 billion merger to create the world’s fourth-largest carmaker appears on the verge of collapse after Honda made an unexpected proposal to turn Nissan into a fully owned subsidiary, according to three people familiar with the matter.

Nissan’s board is planning to reject Honda’s terms for a combination of the two automakers, putting in danger a merger plan announced less than two months ago, people familiar with the matter said Wednesday.

The Wall Street Journal reported that Nissan was likely to walk away from a merger proposed in December that would create the world’s third-largest auto maker. It was a