Foxconn has proposed partnering with Honda Motor Co (TYO:7267) to form an EV alliance with Nissan (TYO:7201) and Mitsubishi (TYO:7211), Nikkei Asia reported Friday, citing a source familiar with the matter.
The Taiwanese firm, initially in talks with Nissan, aims to expand ties after Nissan and Honda ended merger discussions last week, the report said.
Chairman Young Liu said Foxconn seeks "cooperation, not acquisition" and has discussed Renault's 36% Nissan stake, the report said.
Foxconn, which is strong in EV tech but lacks customers, sees the alliance as a path to global growth, while Nissan struggles with weak US sales, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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