Nikkei reported on Monday that Taiwanese electronics giant Hon Hai Precision Industry (Foxconn) has proposed a collaboration with Honda Motor Company. The company aims to join a partnership structure that includes Nissan Motor and Mitsubishi Motors. Foxconn initially plans to focus on electric vehicle (EV) collaborations. Nikkei hinted that a successful cooperation among the four companies could lead to capital partnerships.
Foxconn remains open to a potential collaboration with Nissan and has reportedly approached Honda with a proposal for cooperation. The Taiwanese firm has been working behind the scenes to participate in Nissan’s management even before the two companies began discussing business integration.
Foxconn entered the EV market in 2019 by developing its own EV platform. The company launched buses and passenger cars in Taiwan using an outsourced design and manufacturing business model, but it has had little success in the global market.
Nikkei predicts that if the collaboration materializes, it could also lead to expanded partnerships from a capital perspective.
Last week, the Financial Times reported that Tesla has developed plans to invest in Nissan. This move reportedly responds to the breakdown of business integration talks between Nissan and Honda. Following the news reaching the Tokyo Stock Exchange, Nissan’s stock price surged by approximately 13% at one point compared to the previous day’s closing.
