- Foxconn has confirmed talks with Nissan about a cooperation
- Foxconn said it is open to acquiring a stake in Nissan
- Foxconn wants to build EVs for established car companies, and is also in talks with Honda and Renault
Amid reports that a proposed merger between Honda and Nissan is close to falling apart, Foxconn has announced it is open to acquiring a stake in Nissan.
Speaking to the media on Wednesday, Foxconn Chairman Young Liu said the company was interested in cooperating with Nissan and was open to acquiring shares in the struggling Japanese automaker if it would facilitate the partnership.
“We did have talks about acquiring a stake in [Nissan],” he said, according to the Financial Times. “If [taking a stake] is necessary for cooperation, we will consider it, but buying shares is not our main goal. Our main goal is cooperation.”
Foxconn, the Taiwanese contract manufacturer best known for making iPhones for Apple, has recently expanded into electric vehicle development and production, including launching its own EV brands. In 2022, it acquired a car plant in Ohio as part of a deal with the now-defunct EV startup Lordstown Motors. Foxconn’s chief strategy officer for its EV division, Jun Seki, is also a former senior executive at Nissan.
Foxconn Chairman Young Liu (right) with the MIH modular EV platform
According to the Financial Times, Liu expects to announce a cooperation deal within one or two months. He confirmed that Honda, Nissan, and Renault—which owns 36% of Nissan—were among the automakers Foxconn was in talks with regarding a potential EV supply deal.
Nissan’s sales have declined sharply in recent years, prompting the automaker to announce a restructuring plan last year that includes 9,000 job cuts and a 20% reduction in production. A merger with Honda was proposed late last year, but recent reports from Japan suggest Nissan wants to back out over concerns that Honda seeks to take control of the company.
In addition to Foxconn, Nissan is reportedly in talks with a tech company about a potential collaboration. This mirrors Honda’s strategy with Sony, which led to the creation of their joint EV brand, Afeela.
