In New Taipei, Taiwan, on February 12, Foxconn's chairman stated that their goal is cooperation with Nissan, not acquisition, amidst uncertainty about Nissan's future following failed merger talks with Honda.
Sources revealed that negotiations for a potential merger between Nissan and Honda, aimed at creating the world's fourth-largest automaker, faced complications. This move represents the latest development in an industry grappling with significant challenges from competitors like China's BYD in the electric vehicle market.
Reports suggest that Nissan is willing to explore partnerships with new entities, including Taiwan's Foxconn, a key electronics manufacturer for Apple. Foxconn's Chairman, Young Liu, expressed that while they are not seeking to acquire Nissan, they would consider taking a stake to facilitate cooperation if necessary.
Liu also mentioned potential collaboration with France's Renault, highlighting Renault's ownership links with Nissan. Both Nissan and Renault declined to comment on Liu's statements.
Following Liu's remarks, Nissan shares fell around 6%, while Foxconn shares dipped 1.1%. Nissan and Honda are expected to announce their quarterly financial results on Thursday.
Despite being primarily known for its Apple supply chain, Foxconn aims to diversify its business. Liu clarified that Foxconn does not aspire to become an auto "brand" but intends to offer design and manufacturing services on a commissioned basis only.