WSJ: Foxconn interested in acquiring a stake in Nissan
iPhone maker Foxconn is considering acquiring a stake in Nissan, The Wall Street Journal reported, citing informed sources. According to the publication, the company is actively negotiating, which could be an important step for Foxconn in its quest to enter the car market.
Here's What We Know
Foxconn, known as Apple's key partner in iPhone production, is interested in Nissan's manufacturing facilities and expertise in car design. The company is already making significant investments in the production of electric car components, including $250 million in a Vietnamese industrial park. The company has unveiled several promising electric car concepts, but none have yet gone into production.
The Wall Street Journal reports that Foxconn plans to manufacture cars in the same way it assembles iPhones for Apple. To have companies outsource design and production to it. A limitation at the moment is its lack of expertise in this area, so a partnership with Nissan could help accelerate its plans to integrate into the automotive industry.
In parallel, Nissan is in discussions with Honda to form a holding company, which Mitsubishi could also join.
Source: WSJ
