Nissan Motor on Monday approved opening talks with General Motors over a possible alliance, the Japanese automaker said, according to news agency reports.

Nissan's board of directors met earlier in the day and decided the company "should proceed with exploratory discussions concerning a potential alliance with General Motors," Nissan said in a statement cited by The Associated Press (AP).

The statement added that the talks will be conditional on GM endorsing a proposal by its major shareholder, Tracinda Corp, that GM join the alliance between Renault and Nissan.