Investing.com– Foxconn (SS:601138) had approached Japanese carmaker Nissan Motor Co., Ltd. (TYO:7201) for a possible controlling stake, Bloomberg reported on Wednesday, because the Taiwanese tech large seeks to push aggressively into constructing electrical autos.
Foxconn, recognized formally as Hon Hai Precision Business Co Ltd (TW:2317), is probably going eager about Nissan’s lineup of cars, not simply its automaking infrastructure, the Bloomberg report mentioned.
The Taiwanese agency has been closely investing in making EVs, and had even named former Nissan (OTC:NSANY) and Nidec govt Jun Seki because the chief technique officer of its EV enterprise in 2023.
Foxconn had spun off its EV unit, Foxtron Car Applied sciences Co Ltd (TW:2258), in late-2023.
Nissan has been fighting elevated competitors from EVs, particularly in China, the place EV makers have been engaged in a bitter worth battle for dominance on this planet’s greatest car market.
Studies on Tuesday mentioned that Nissan and Japanese peer Honda (NYSE:HMC) Motor Co Ltd (TYO:7267) had been contemplating a merger to higher climate market headwinds, and will additionally rope in peer Mitsubishi Motors Corp. (TYO:7211).
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