Japanese automaker Nissan (NSANY) finds itself at a crossroads. Nissan was poised to participate in a megamerger with rival Honda (HMC), and it was a huge development when the talks were revealed late last year.

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

TOKYO — Nissan is set to call off merger talks with rival Honda, a source said Wednesday, abandoning a $60 billion-plus tie-up that would have created the world's No. 3 automaker and raising questions about how it will drive a turnaround by itself.

Even if the merger is off, Nissan remains keen on working with Honda in areas such as electric vehicles and software defined vehicles.

Nissan and Honda, both major automakers based in Japan, responded Wednesday to reports that a potential merger of the two companies could beat risk of being abandoned.

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.

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 could soon walk away from a deal that would have created the world’s third-largest automaker.

The future of a potential merger between Nissan Motor Co., Ltd. and Honda Motor Co., Ltd. hangs in the balance as reports emerge that Nissan is set to

The merger between Honda and Nissan is set to fail before it even begins.Reports from Japan indicate Honda and Nissan may be preparing to scuttle merger discussions.According to Asahi Shimbun, Honda has become annoyed by the slow progress of the integration talks and instead proposed absorbing Nissan as a subsidiary.