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Taiwan’s Foxconn (SS:601138) is open to acquiring a stake in Nissan (OTC:NSANY) to strengthen cooperation, said Chairman Young Liu on Wednesday. However, Liu emphasized that buying shares is not the primary goal, but rather fostering collaboration. Discussions also involve Nissan’s top shareholder, Renault (EPA:RENA), which holds a 36% stake.
Nissan faces uncertainty after halting merger talks with Honda (NYSE:HMC). Sources indicate that the companies will announce the official termination of their potential partnership on Thursday due to widening differences. The failed deal could have created the world’s fourth-largest automaker, crucial in competing with China’s BYD (SZ:002594) and rising EV manufacturers.
Foxconn, the world’s largest contract electronics maker and Apple’s (NASDAQ:AAPL) main iPhone assembler, has been expanding into the EV sector to diversify its business. The company aims to provide vehicle design and manufacturing services rather than establish its own automotive brand.
Nissan, looking for new alliances, is open to working with Foxconn. While Renault and Nissan declined to comment on Liu’s statement, insiders suggest discussions are ongoing.
The auto industry is rapidly evolving, with growing pressure from China’s EV market. Nissan's search for strategic partners signals its need to remain competitive amid shifting industry dynamics.
