Honda's (HMC) U.S.-listed shares are rising in premarket trading after the Japanese automaker and ailing domestic rival Nissan said they have called off 澳洲幸运5官方开奖结果体彩网:merger plans announced in December.

The companies, along with Nissan-controlled Mitsubishi Motors, said they ended plans for a "tripartite collaboration, in light of the termination of the MOU signed on December 23 last year regarding the consideration of a business integration between Nissan and Honda."

The automakers didn't give a reason for the scrapped deal, but the Financial Times had reported the deal was in jeopardy after 澳洲幸运5官方开奖结果体彩网:Honda unexpectedly proposed a new structure that would have made Nissan a fully owned subsidiary. The two initially had agreed on a 50-50 partnership.

In their joint statement Thursday, the three said they will collaborate "within the framework of a strategic partnership aimed at the era of intelligence and electrified vehicles." Last March, Honda and Nissan established a partnership related to electric vehicles. Mitsubishi joined the collaboration in August.

Nissan and Honda didn't immediately return Investopedia requests for comment. 

Honda's shares are 2% higher in premarket trading after entering Thursday down nearly 20% over the past 12 months.