Nissan began merger discussions with Honda in December 2024 after the Yokohama-based automaker's bleak financial situation became apparent at the release of its year-end reports. Since then, it's been openly looking to break ties with its nearly two-plus-decade alliance with France's Renault.

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

The companies first announced merger talks last December to create the world's third-largest automaker by vehicle sales.