Foxconn Technology Group is pursuing manufacturing partnerships with Japanese automakers, including Nissan Motor Co., while dismissing speculation about acquiring Renault SA’s stake in the Japanese carmaker.
The Taiwan-based electronics manufacturer’s Chairman Young Liu confirmed discussions with Renault about its Nissan holdings but emphasized the company’s focus on cooperation rather than ownership. Liu said he expects to announce developments in Foxconn’s electric vehicle business within two months.
Renault currently holds a 36% stake in Nissan, with about 19% placed in a trust as part of their alliance restructuring last year. The French automaker has been gradually selling these shares.
Any potential deal involving Nissan would face regulatory scrutiny under Japan’s foreign investment rules. A Japanese government official noted that any equity acquisition would require official review.
Foxconn, known primarily as Apple Inc.’s largest iPhone assembler, aims to expand its presence in the EV sector through contract manufacturing agreements. The company has repeatedly stated it won’t create its own car brand, instead positioning itself as a manufacturing partner for established automakers transitioning to electric vehicles.
The discussions highlight Foxconn’s strategy to leverage its electronics manufacturing expertise in the growing EV market, particularly in Asia where traditional automakers are accelerating their electric vehicle programs.
