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Foxconn has discussed making bid for Nissan

Livemint

Livemint · 8m ago

Foxconn has discussed making bid for Nissan

Taiwanese contract manufacturing company Foxconn is reportedly in discussions to acquire Nissan as part of its plans to expand its electric vehicle (EV) business. Foxconn is interested in Nissan's core assets, particularly its expertise in car hardware manufacturing and design. The former Nissan executive, Jun Seki, who now heads Foxconn's EV business, has facilitated communication between the two companies. This interest coincides with confirmation from Nissan and Honda that they are in talks regarding a potential merger or collaboration. Foxconn aims to leverage its experience in contract manufacturing to establish a presence in the global EV market.

Related News

Nissan considers Foxconn EV output to save Oppama from closure, Nikkei says

Economic Times

Economic Times · 1m ago

Nissan considers Foxconn EV output to save Oppama from closure, Nikkei says

Nissan Motor is discussing a collaboration with Taiwan's Foxconn to produce electric vehicles, potentially saving its Oppama plant in Japan from closure. This move comes amidst Nissan's restructuring plans, which may have targeted the Oppama plant, employing around 3,900 workers, for consolidation. By producing Foxconn-brand EVs, Nissan aims to preserve jobs and supplier networks, according to a report by the Nikkei business daily.

Foxconn eyes Japan for electric vehicle growth, seeks partnerships

Economic Times

Economic Times · 4m ago

Foxconn eyes Japan for electric vehicle growth, seeks partnerships

Taiwan's Foxconn is targeting Japan to expand its electric vehicle (EV) operations and aims to form partnerships with Japanese companies. As global automakers face competition from Chinese brands expanding in battery-powered vehicles, Foxconn plans to collaborate with manufacturers like Nissan, Honda, and Mitsubishi. The company, focusing on business-to-business services, intends to introduce electric and microbuses in Japan by 2027 and is finalizing a deal to supply EVs to Mitsubishi, enhancing its presence in the Japanese market.

Foxconn founder Terry Gou makes first high profile appearance in months

Reuters · 1y ago

Terry Gou, the billionaire founder of Foxconn, made a public appearance at the company's 50th-anniversary event. Gou, who had recently withdrawn from his bid for Taiwan's presidency, stepped down as the chief of Foxconn in 2019 but remains the largest shareholder. The celebration was held in his honor, with Foxconn's chairman thanking long-time customers and suppliers for their support. Foxconn is now looking to expand into electric vehicle manufacturing, and some guests were taken to the event in a Foxconn-developed electric car.

Foxconn founder Terry Gou makes first high-profile appearance in months

Economic Times

Economic Times · 1y ago

Terry Gou, the founder of Apple supplier Foxconn, made a public appearance at the company's 50th anniversary celebration after ending his bid for Taiwan's presidency. Gou remains Foxconn's largest shareholder and attended the event alongside other industry leaders such as Apple's COO and SoftBank's CEO. Foxconn, known for manufacturing electronics, is now looking to enter the electric vehicle market.

Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges

Livemint

Livemint · 9m ago

Nissan CFO Set to Step Down as Carmaker Faces Raft of Challenges

Nissan Motor's Chief Financial Officer, Stephen Ma, is reportedly stepping down from his position, adding to a series of executive changes at a challenging time for the Japanese carmaker. It is unclear whether Ma will be demoted or leave the company. This comes after Nissan's recent announcement to cut 9,000 jobs and reduce manufacturing capacity. The CEO, Makoto Uchida, will be the sole top-level C-suite executive at a time when Nissan is facing management upheaval and scrutiny from activist investor Effissimo Capital Management. Nissan's market value has shrunk since 2015, making it the fifth-largest carmaker in Japan.

Nissan announces plans to make 16 new electrified vehicles by 2026

The Verge

The Verge · 1y ago

Nissan announces plans to make 16 new electrified vehicles by 2026

Nissan has announced its new plan to electrify 16 out of 30 vehicles by 2026, with the remaining vehicles using internal combustion engines. In North America, the company aims to release seven new vehicles, although it is unclear how many will be electric. Currently, Nissan produces the Ariya SUV and the Leaf as all-electric options. While Nissan previously stated that it would produce 23 electrified vehicles by 2030, with 15 being fully electric, it is uncertain if the new plan represents progress. Nissan aims for 60% of its vehicles to be electrified by 2030, with a total of 34 electrified vehicles by that year.

Foxconn says execs from Nvidia, Google, BMW will speak at its annual forum

Economic Times

Economic Times · 11m ago

Foxconn says execs from Nvidia, Google, BMW will speak at its annual forum

- Foxconn to host annual tech day forum next week, with executives from companies like Nvidia, Google, and BMW speaking. - Nvidia CEO Jensen Huang made an appearance last year to announce a partnership with Foxconn for building AI factories. - Executives will discuss topics such as artificial intelligence, electric vehicles, and digital health management. - Two new electric vehicle models will be unveiled at the event. - Foxconn aims to replicate its success in assembling electronics as it expands into making electric vehicles.

Foxconn founder Terry Gou announces run for Taiwan presidency

Economic Times

Economic Times · 2y ago

Foxconn founder Terry Gou announces run for Taiwan presidency

Terry Gou, founder of Foxconn and a billionaire, has announced his bid to become Taiwan's president in January's elections. He aims to unite the opposition and prevent Taiwan from becoming "the next Ukraine." Gou highlighted the need to avoid war with China by changing the ruling Democratic Progressive Party (DPP). Despite his previous bid in 2019, Gou faces challenges, with low poll numbers and other opposition candidates. He urged unity among opposition parties and expressed his willingness to sacrifice personal assets in China in the event of conflict. Gou stepped down from Foxconn's daily management four years ago.

Renault buys out Nissan’s 51% stake in India JV, French carmaker to lead with new EV plans

Business Today

Business Today · 5m ago

Renault buys out Nissan’s 51% stake in India JV, French carmaker to lead with new EV plans

Renault is taking full ownership of its Indian joint venture, Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring Nissan's 51% stake. This strategic move aims to enhance Renault's presence in India’s rapidly growing auto market. Renault will manage the Chennai plant, maintaining Nissan models' production while advancing its own projects, including EV developments. Nissan retains access for sourcing and will jointly control a technology and business center in India with Renault.

Foxconn planning to make EVs in India; Tamil Nadu on radar

Economic Times

Economic Times · 1y ago

Foxconn planning to make EVs in India; Tamil Nadu on radar

Foxconn is examining options to produce electric vehicles (EVs) in India, and among the states under consideration for establishing a facility, Tamil Nadu is one of them, according to the local representative of the Taiwanese contract manufacturer. The company's chairman, Young Liu, has previously discussed the idea of regionalized car production, as demonstrated by Foxconn's plans to construct an EV factory in Ohio, USA, and another in Thailand. "He (Liu) also mentioned..." stated V Lee.

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