Nissan has ended merger discussions with Honda and is now open to working with new partners, including technology firms such as Foxconn

Don’t underestimate the pride of an ailing company. After signing a memorandum of understanding in late December to “consider” a merger with Honda, a source told Reuters that Nissan is backing out of the discussion.

With the $60 billion merger now seemingly off the table, Nissan is looking for other options to stay competitive, particularly after recent financial setbacks. Citing two unnamed sources, Reuters reports that the automaker is open to working with technology companies, with Foxconn emerging as a serious contender.