Following reports of Nissan calling off a planned merger with Honda, the former is now open to working with new partners. The deal, if it was seen through, would have led to the formation of the world’s third largest automaker.
According to people familiar with the matter who spoke to Reuters, Foxconn is seen as one possible candidate. The Taiwanese technology company, which is seeking to expand its new electric vehicle (EV) contract manufacturing business, is seen as a possible candidate.
Foxconn has previously approached Nissan about a bid but was rejected by the carmaker as it focused on Honda. Foxconn then looked to Renault, which owns a 36% stake in Nissan, to purchase a slice of the Japanese carmaker.
A separate report by Financial Times indicates Renault has reactivated talks with Foxconn regarding its plan to purchase a stake in Nissan. At present, its 36% stake in Nissan includes a remaining nearly 19% held in a French trust that it wants to offload. However, Nissan has the first right of refusal, which would make it difficult for a sale to materialise without its agreement.
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Hooray! Taiwan-san to the rescue
Now can go bossy Foxconn
Look! Your chipset so tiny
My wheels are so big!!
Nissan will tell Foxconn to pump in money and leave Nissan’s old guard alone to continue their job, business as usual. “Give us your money so that we don’t sink, but stay out, we will dictate the business. Otherwise, no deal”.
Trust Nissan to have a recipe for success that the whole world will envy and applaud.
So in this Game of Thrones either Nissan backstabs them or Foxconn pushes them from 14th floor without suicide nets.
Nissan management thinks they are high and mighty. should’ve just let them go bankrupt to teach them how to eat humble pie.