Nissan Motor Co. is seeking a new partner as it prepares to end negotiations to form a joint holding company with Honda Motor Co., people familiar with the matter said.

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

According to the report, Foxconn had expressed interest in acquiring Nissan in December, despite the then-active merger talks with Honda. Nissan had reportedly rejected the bid, but it seems that the company is still considering a collaboration with the iPhone maker.