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Japan’s Nissan Motor Co. (OTC:NSANY) is reportedly in advanced discussions with Taiwan’s Foxconn (SS:601138) to allow the electronics giant to manufacture electric vehicles (EVs) at Nissan’s Oppama plant in Yokosuka, just south of Tokyo. The move could help Nissan avoid shuttering the factory, which employs around 3,900 workers, and reduce the fallout from its global restructuring efforts.
Nissan has been undergoing a major overhaul under CEO Ivan Espinosa, who announced plans to shut down seven of its 17 production facilities worldwide and cut its workforce by 15%. The potential collaboration with Foxconn could spare the Oppama plant from closure and sustain its supplier network.
The Nikkei business daily first reported the talks, citing unnamed sources. While Nissan has stated that the report was not based on official company disclosures, the ongoing negotiations reflect broader industry trends of cross-sector collaboration as automakers transition to EV production. Foxconn, best known for assembling Apple’s iPhones, has been aggressively expanding into the EV market to diversify its revenue streams.
This isn't Foxconn’s first foray into automotive partnerships in Japan. In May, Mitsubishi Motors (OTC:MMTOF), a junior partner in the Nissan-Renault alliance, signed a memorandum of understanding with a Foxconn subsidiary to co-develop an EV model, signaling growing ties between Japanese automakers and the Taiwanese firm.
Foxconn did not respond to Reuters’ request for comment.
As global EV demand surges, partnerships between tech firms and traditional automakers are becoming increasingly common. For Nissan, leveraging Foxconn’s manufacturing expertise could offer a lifeline to its struggling domestic operations and accelerate its shift toward electrification.
