Nissan and Honda call off merger

CHARLOTTE, N.C.– Nissan and Honda will not merge. The Japanese auto makers called off their talks. The announced in December they were beginning to discuss a possible deal. The reason was because both wanted to strengthen their positions in electric vehicles against Chinese competitors. Nissan said it will collaborate with Honda in a strategic partnership instead. The deal cuts off what some analysts hoped would be a lifeline for Nissan. The company has a large amount of debt due next year and some investors fear it could face bankruptcy.