Foxconn in talks with Nissan for controlling stake to expand into EV market.

From Investing.com: 2024-12-18 00:45:41

Foxconn is in talks with Nissan for a controlling stake, aiming to expand into electric vehicles. The Taiwanese company is interested in Nissan’s car lineup, not just infrastructure. Foxconn has invested heavily in EVs, appointing a former Nissan executive as chief strategy officer for its EV business.

Nissan faces tough competition in the EV market, particularly in China. Reports suggest Nissan and Honda are considering a merger to strengthen against market challenges. Mitsubishi Motors Corp. could also be involved in the potential merger. Foxconn previously spun off its EV unit, Foxtron Vehicle Technologies.



Read more at Investing.com: Foxconn approached Nissan for controlling stake amid EV ambitions- Bloomberg By Investing.com