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.
The post Nissan open to new partnerships after Honda merger stalls – Foxconn emerges as possible candidate appeared first on Paul Tan's Automotive News.
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