Foxconn Chairman Younger Liu delivers a speech through the Hon Hai Tech Day in Taipei on Oct. 18, 2023.
I-hwa Cheng | AFP | Getty Pictures
Taiwan’s Foxconn would think about taking a stake in Nissan for cooperation, its chairman mentioned, because the Japanese automaker’s future hangs within the stability after stepping again from merger talks with Honda.
“If cooperation requires it (buying Nissan shares), we are going to think about it,” Foxconn chairman Younger Liu instructed reporters on Wednesday within the firm’s first public feedback about its talks with Nissan.
“However buying its shares will not be our intention; our intention is cooperation,” he mentioned, including it was speaking about cooperation with Nissan’s greatest shareholder Renault, which owns 36% of the Japanese agency.
Struggling Nissan is once more at a crossroads after sources mentioned final week that negotiations with larger rival Honda to create the world’s No. 4 automaker had been difficult by rising variations.
Nissan and Honda are anticipated to put out a brand new stage of their unsure relationship on Thursday, one that’s more likely to see them formally name off a plan to merge after talks between the 2 foundered final week, in line with sources.
The deal would have been the newest change in a automobile trade going through an enormous menace from China’s BYD and different electrical automobile entrants.
Nissan is open to working with new companions equivalent to Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s major iPhone maker, the sources mentioned final week.
Nissan and Renault declined to touch upon Liu’s remarks.
Whereas Foxconn, the world’s largest contract electronics producer, is finest identified for its function as an Apple provider, it additionally has ambitions within the electrical automobile sector because it seeks to diversify its enterprise.
Liu mentioned Foxconn wouldn’t get into being an auto “model” and would solely present commissioned design and manufacturing providers.