According to Taiwan’s Central News Agency (CNA), a senior executive of iPhone maker Foxconn (also known as Hon Hai Precision Industry) is in France to discuss a possible stake purchase in Nissan, which is facing financial turmoil.
As reported by Reuters and The Japan Times, Jun Seki, a former Nissan executive who now leads Foxconn’s electric vehicle (EV) business, is meeting with officials from Renault, which is Nissan’s biggest shareholder with a 36% stake. This comes after Jun’s expression of interest was not responded to by Nissan in a favourable manner.
Foxconn isn’t the only one interested in Nissan, as Nikkei Asia revealed earlier this week that Honda is in talks for a possible merger. Honda’s executive vice president Shinji Aoyama said besides a merger, a capital tie-up or even a formation of a holding company are possible, with this new alliance likely to also include Mitsubishi.
Foxconn’s interest in Nissan is certainly a spanner in the works for Honda, which has reportedly threatened to end its existing strategic software partnership with Nissan if it partners up with Foxconn. Nikkei Asia reports that Honda was also considering becoming a white knight investor for Nissan should Foxconn launch a hostile takeover, and that merger negotiations could start as early as next week.
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