Foxconn Reportedly Seeks to Acquire Controlling Stake in Nissan
Foxconn has offered to buy a major stake in Nissan Motor Company to control it. According to a Bloomberg News report, Foxconn has started talks with Nissan and has shown interest in buying the company’s entire business.
Foxconn’s Interest in Electric Vehicle Sector
Foxconn, which is mainly investing heavily in the field of electric vehicles (EV), is planning to buy not only Nissan’s factories and equipment but also wants to take over the entire business along with the company’s popular models such as Pathfinder, Sentra Sedan and GTR Supercar.
Talks Between Nissan and Foxconn
According to sources, it is not yet clear whether Nissan has discussed the offer in depth or has turned it down. A Nissan spokesperson has declined to comment on the matter, while a Foxconn representative has also not responded.
Possibility of Nissan-Honda Merger
Meanwhile, Nissan and Honda have announced that they are considering a possible merger. The move is being seen as a strategy to increase competition in the global market. According to a Nikkei report, Foxconn’s interest in Nissan has accelerated the merger process of these two Japanese companies. Honda officials have indicated that they are considering several options such as capital cooperation or forming a holding company.
Foxconn’s History of Investing in Japanese Companies
This is not the first time Foxconn has tried to take a stake in a Japanese company. In 2016, Foxconn acquired a two-thirds stake in Sharp Corp. With this acquisition, Foxconn gained consumer electronics brands, LCD production technology and related intellectual property. Although Foxconn later reduced its stake in Sharp, it is still the largest shareholder of the company.
This news is a big stir for the automobile and tech sector. Now it remains to be seen whether the merger between Nissan and Honda happens or Foxconn’s plans move forward.
