Foxconn Considering Nissan's Offer for Electric Vehicle Expansion - WSJ

Investing.com -- Foxconn, the Taiwanese contract manufacturing giant known primarily for assembling Apple products, is reportedly considering acquiring the Japanese automaker Nissan as part of its strategy to expand its developing electric vehicle (EV) business, according to the Wall Street Journal.

Sources close to the matter indicate that Foxconn is interested in Nissan's core competencies, including its expertise in automotive hardware production and design. Jun Seki, a former Nissan executive who now heads Foxconn's EV division, played a significant role in establishing communication channels between the two companies. However, neither Foxconn nor Nissan has made an official statement regarding the potential acquisition.

This news comes shortly after Nissan and Honda announced that they were in talks regarding potential future collaborations or mergers. However, they stated that no final decision has been made yet.

Also known as Hon Hai Precision Industry, Foxconn is leveraging its extensive experience in contract manufacturing to establish a presence in the global EV market. The company’s plans involve producing vehicles in a manner similar to how it assembles iPhones for Apple and PlayStations for Sony.