Foxconn’s aim is cooperation with Nissan, not acquisition

NEW TAIPEI: Foxconn Chairman Young Liu said on Wednesday that the company’s aim is cooperation with Japan’s Nissan, not acquisition.

The struggling Japanese automaker is again at a crossroads after backing out of negotiations with bigger rival Honda last week to create the world’s No. 3 automaker, a deal that would have been the latest major change in the shifting global car industry.

A source told Reuters that Nissan is open to working with Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s main iPhone maker.

Foxconn January revenue up 3.16% y/y, sees strong growth in Q1

Speaking to reporters at its corporate headquarters in New Taipei, outside the capital Taipei, Liu said Foxconn is not looking at buying Nissan.

“Purchasing its shares is not our aim; our aim is cooperation,” he added. Foxconn is also talking about cooperation with France’s Renault,given that company’s ownership stake in Nissan, Liu said.