Foxconn Aims for Cooperation with Nissan, Not Acquisition
- tech360.tv
- Feb 13, 2025
- 1 min read
In a recent statement, the chairman of Taiwan's Foxconn clarified the company's intentions towards Nissan, emphasising cooperation over acquisition. This declaration comes as Nissan faces uncertainty following the breakdown of merger discussions with Honda.
Nissan finds itself at a critical juncture once again, with talks of a potential merger with Honda hitting obstacles. The automotive industry is undergoing significant transformations, with the emergence of formidable competitors like China's BYD in the electric vehicle market.
Sources revealed that Nissan is receptive to collaborating with new partners, including Foxconn, the world's largest contract electronics manufacturer and a key supplier for Apple.
During a press briefing at Foxconn's headquarters in New Taipei, Chairman Young Liu affirmed that the company's primary goal is cooperation rather than acquiring shares in Nissan. He expressed openness to taking a stake if necessary to facilitate collaboration.
Liu also mentioned discussions about potential cooperation with Renault, considering the French company's significant stake in Nissan. Renault currently holds a 36% share in Nissan.
Both Nissan and Renault refrained from providing comments on Liu's statements, maintaining a cautious stance amidst ongoing developments.
Despite being renowned as a key Apple supplier, Foxconn is diversifying its business interests, particularly in the electric vehicle sector. Chairman Liu clarified that Foxconn's focus is on providing commissioned design and manufacturing services rather than establishing itself as an auto brand.
Foxconn emphasises cooperation with Nissan, dispelling acquisition rumours
Nissan faces challenges post Honda merger talks breakdown
Foxconn explores potential collaboration with Renault due to the latter's stake in Nissan
Source: REUTERS
