Honda and Nissan initially said they were trying to finalize an agreement by June and set up the holding company by August. The three automakers will continue to work together on electric vehicles and smart cars, such as autonomous driving, they said Thursday.

Honda and Nissan announced in December they were planning on holding talks to set up a joint holding company while Mitsubishi said later it was considering joining the group. View on euronews

The automakers agreed to end their agreement regarding the consideration of the structure for a collaboration, their joint statement said.