Nissan was deep in trouble late last year when rival Honda offered a lifeline: a $60 billion tie-up that would help both Japanese automakers compete against the Chinese brands upending the car industry.

Reportedly disrespected by Honda's proposal to make it a subsidiary, Nissan is still looking for a partner. Its future may depend on finding one.

Two of Japan’s largest automakers have been in talks to combine their operations to form one of the world’s biggest car groups.