Shortly after reports emerged about Honda and Nissan exploring a potential merger, new details indicate that Taiwanese iPhone manufacturer Foxconn is setting its sights on acquiring a stake in Nissan. According to the Wall Street Journal, sources familiar with the matter say that Foxconn has been 'actively discussing the acquisition of Nissan.' Should such a deal be reached, it would represent a significant shift for Foxconn as the company intensifies its efforts to break into the automotive industry.
Foxconn, known for its role as a manufacturing powerhouse for Apple, is interested in Nissan's core assets, particularly its expertise in vehicle manufacturing and design. Thanks to its ambitions in the electric vehicle sector led by former Nissan CEO John Seiki, Foxconn has already committed to investing $250 million in a Vietnamese industrial zone focused on electric vehicle components. While the company has showcased several promising electric vehicle models, none have yet reached the production line.
The Wall Street Journal reported that Foxconn plans to produce vehicles in a manner similar to how it builds iPhones for Apple, relying on companies to design and produce vehicles. While it has limited experience in manufacturing car bodies, a partnership with Nissan could help accelerate its plans to start manufacturing cars.
While discussions between Honda and Nissan are said to be ongoing, there is speculation that they may establish a new holding company to facilitate resource sharing. Although Renault has not directly commented on a potential merger with Honda, a spokesperson for the French automaker stated that Renault 'supports Nissan's efforts to regain its commercial position.' According to the Financial Post, a deal with Honda could also help insulate Renault from Nissan's ongoing financial struggles.
Interestingly, reports suggest that Foxconn's growing interest in Nissan may have acted as a catalyst, accelerating merger talks between Honda and Nissan. This urgency seems to stem from concerns that the Taiwanese manufacturing giant could take steps to directly acquire the struggling automaker, putting additional pressure on Honda and Nissan to strengthen their partnership before it’s too late.
The merger between Nissan and Honda could potentially include Mitsubishi, uniting most of the Japanese automotive industry into just two companies: Nissan-Honda and Toyota, along with all the various companies that hold stakes in them, including Suzuki, Subaru, and Mazda.
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