Foxconn Considers Stake in Nissan for Collaboration
Foxconn, the world's largest contract electronics manufacturer, is open to taking a stake in Nissan as part of a potential collaboration, according to the company's chairman, Young Liu. This comes as Nissan's future remains uncertain following the collapse of merger talks with Honda.
"If cooperation requires it (purchasing Nissan shares), we will consider it," Liu said during a press conference. However, he emphasized that acquiring shares is not their primary goal, but rather to establish a collaborative partnership. This collaboration would also involve discussions with Nissan's largest shareholder, Renault, which owns 36% of the Japanese firm.
Nissan finds itself at a crossroads after negotiations with Honda to create the world's fourth-largest automaker fell through due to growing differences. The two companies are expected to announce their next steps on Thursday, which will likely involve formally calling off the merger plan.
This potential deal would have been a significant move in the automotive industry, which is facing increasing competition from Chinese electric vehicle manufacturers like BYD. Nissan is open to working with new partners like Foxconn, which has ambitions in the electric vehicle sector and seeks to diversify its business beyond its role as Apple's main iPhone manufacturer.
Liu clarified that Foxconn does not intend to become an automotive brand itself, but will instead focus on providing commissioned design and manufacturing services.