Foxconn, Apple’s main production partner, seems to be interested in entering the business of a potential merger between Honda and Nissan. In this regard, an executive from the Taiwan-based company is in France to discuss a possible purchase of part of the stake that Renault holds in Nissan Motor.
According to Reuters, which cites Taiwan’s official news agency, Jun Seki, a former Nissan executive who now leads Foxconn’s electric vehicle business, is in France to meet with Renault officials to negotiate the purchase of at least part of the stake that Renault, the largest shareholder of the Japanese automaker, holds in the company.
Foxconn’s interest in Nissan comes at a time when the Japanese automaker is in negotiations with Honda to deepen cooperation between the two companies, including a potential merger.
It is worth noting that Nissan is in a delicate financial situation, having recently announced a cost-cutting plan of about €2.6 billion, which includes cutting 9,000 jobs and 20% of its global production capacity, as a decline in sales in China and the U.S. has led to an 85% drop in second-quarter profits.
