In a joint statement released the same day, Honda acknowledged that it proposed to divert from its original intention of forming a joint holding company to one where "Honda would

Honda Motor will resume talks with Nissan Motor to form the world's fourth-biggest automaker provided Nissan CEO Makoto Uchida steps down, the Financial Times reported on Tuesday citing a person familiar with discussions.

The Japanese companies’ decision to call off negotiations highlights the challenges legacy automakers face in partnering to tackle new technologies.

The recently-called-off merger between Honda and Nissan may not in fact be dead, according to a Financial Times report. Honda is willing to restart talks if Nissan CEO Makoto Uchi

Japan's second- and third-largest automakers by sales after Toyota Motor had been in talks to create a $60 billion firm after a lack of hybrid models in the U.S. and competition from local rivals in China had sent Nissan's earnings diving.

Honda (NYSE:HMC) is ready to revive merger talks with Nissan (OTCPK:NSANY) if the latter's CEO Makoto Uchida resigns, the Financial Times reported, citing people with knowledge of the matter. Merger talks between the Japanese automakers fell through after Honda (NYSE:HMC) proposed that Nissan (OTCPK:NSANY) become a fully owned subsidiary,