Japanese auto giants Honda and Nissan confirmed they've scrapped merger talks announced in December​, ending a potential combination that would have created the world's third-largest automaker.

After Honda walked away from merger talks, Nissan finds itself at a crossroads. Could tech giant Foxconn or private equity firm KKR be the lifelines it desperately needs?

With the Nissan-Honda merger officially dead, Nissan is now moving forward with its own restructuring plan.That means deep job cuts, plant closures, and a more aggressive approach to development cycles as the company attempts to regain stability.