Investing.com– Foxconn (SS:) had contacted a Japanese automotive producer Nissan Motor Co., Ltd. (TYO:) for a possible majority stake, Bloomberg reported Wednesday, because the Taiwanese tech big seems to be to aggressively transfer into electrical car manufacturing.
Foxconn, formally generally known as Sure Precision Business Co Ltd (TW:) is probably going interested by Nissan’s line of vehicles, not simply its automotive manufacturing infrastructure, in response to the Bloomberg report.
The Taiwanese firm has invested closely in electrical car manufacturing and even named former Nissan (OTC:) and Nidec govt Jun Seki as chief technique officer for its EV enterprise in 2023.
Foxconn had separated its EV unit, Foxtron Automobile Applied sciences Co Ltd (TW:), finish of 2023.
Nissan faces elevated competitors from electrical autos, significantly in China, the place electrical car makers are engaged in a bitter value battle to dominate the world’s largest auto market.
Stories on Tuesday indicated that Nissan and its Japanese friends Honda (NYSE:) Motor Co Ltd (TYO:) was contemplating a merger to raised climate market headwinds, and might also be part of forces with its friends Mitsubishi Motors Corp. (YOU:).
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