Foxconn reported to bid for Nissan
Media reported that Nissan Motor had decided to halt the merger talk with Honda Motor as the proposal making Nissan a subsidiary. Nissan is now open to working with new partners including Foxconn, according to Reuters.
Having been investing in electric vehicle (EV) development and production of key components, Foxconn shares the same strategic vision with Nissan, which looks to navigate the technology of leading Chinese manufacturers.
Foxconn approached Nissan about a bid but was rejected by the Japanese automaker, Reuters reported in December. Foxconn's EV business is led by former Nissan senior executive, Jun Seki, who was once seen as a contender to become the automaker's CEO.
The news agency cited unnamed sources, that Nissan will formalize the decision to withdraw from the MOU signed with Honda at a board meeting to be held soon.
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