Nissan and Honda have officially withdrawn from negotiations to merge into a single holding company, terminating a memorandum of understanding on possible cooperation. They announced this on Thursday, February 13.
The reasons for terminating the memorandum were not disclosed, but Western media had previously reported that Nissan did not agree to the role of junior partner.
According to the agreement, the companies were supposed to enter the same holding on equal terms, but Honda recently presented a new proposal. According to it, Nissan would become a subsidiary of Honda.