Struggling Japanese automaker Nissan announced on Tuesday that chief executive Makoto Uchida would step down, a move that follows the failure of merger talks with rival Honda.

Taiwanese manufacturing giant Foxconn has previously expressed interest in buying out Renault's stake in Nissan

When news broke of official merger talks between Honda and Nissan came to light earlier this year, it seemed like there was relief on the horizon for the latter carmaker. It's no secret that the Yokohama,