Nissan Motor’s shares climbed after a report said Hon Hai Precision Industry was making another pass at the flailing car-maker as its tie-up with Honda Motor falls apart.
Nissan rose as much as 6% after CNA reported that Hon Hai Chairman Young Liu instructed former Nissan executive Jun Seki to connect with French car-maker Renault, which holds about 36% of Nissan’s stock.
Hon Hai, the Taiwanese iPhone-maker better known as Foxconn, was exploring an investment or buyout of Nissan last year but backed off in December 2024 after the Japanese car-maker penned a deal with Honda to bring both brands under a single holding company.
The Taiwanese company is seeking to become a contract manufacturer for electric vehicles by leveraging its experience making electronics for Sony Group, Cisco Systems and other companies.
Honda and Nissan confirmed this week that they’re still discussing various options, including the possibility of ending deal talks. Nissan is now seeking a new partner as it prepares to end negotiations with Honda, according to people familiar with the matter, which could reopen the door for Foxconn.
Nissan, which will report third-quarter earnings next week, announced a 94% drop in net income for the first half and has said it will need to dismiss 9,000 workers and cut a fifth of its manufacturing capacity.
