Foxconn Considers Acquiring Nissan for EV Growth

Investing.com — Foxconn (SS:601138), a Taiwanese contract manufacturing behemoth primarily known for assembling Apple (NASDAQ:AAPL) products, is reportedly contemplating the acquisition of Japanese automaker Nissan (OTC:NSANY) as part of its strategy to expand its nascent electric vehicle (EV) business, as reported by the Wall Street Journal.

Foxconn has shown interest in Nissan's core competencies, including its expertise in car hardware manufacturing and design, according to sources familiar with the matter.

Jun Seki, a former Nissan executive currently leading Foxconn's EV division, has been instrumental in fostering communication between the two companies. However, neither Foxconn nor Nissan has officially commented on the situation.

This news comes shortly after Nissan and Honda (NYSE:HMC) announced that they are discussing potential collaborations or a merger. They clarified that no final decision has been made yet.

Foxconn, also known as Hon Hai (TW:2317) Precision Industry, has been leveraging its extensive experience in contract manufacturing to gain a foothold in the global EV market. The company plans to manufacture vehicles similarly to how it assembles iPhones for Apple and PlayStations for Sony (NYSE:SONY).

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