A MAJOR tech firm behind Apple iPhones is reportedly looking to create a huge merger between three massive car brands.
Foxconn, best known for building the flagship phone for Apple, is also revving up plans to launch two electric vehicles.
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The Taiwanese firm is reportedly keen on teaming up with three of Japan’s biggest car brands in Nissan, Honda and Mitsubishi.
Foxconn says it sees Japan as a key growth market for its EV business and is looking to strike deals with local carmakers “as soon as possible”, according to a company executive.
Speaking at a Tokyo seminar on Wednesday, Jun Seki – Foxconn’s Chief Strategy Officer for EVs and a former top Nissan executive – said: “Automakers are scattered all over the world.
“We will of course work with all of these customers, but there are several points where we feel we have a strong affinity with Japan.”
Foxconn plans to roll out both an electric bus and a battery-powered microbus in Japan by 2027.
However, unlike Tesla, it is not aiming for the everyday driver and is focusing on business-to-business deals.
The company is reportedly keen to work with Nissan, though isn’t currently in talks with the struggling Japanese automaker.
But there’s more traction elsewhere as Foxconn is said to be closing in on a deal with Mitsubishi to supply electric vehicles, a move confirmed by Seki during the event.
Insiders say Mitsubishi is preparing to outsource production of EVs for the Oceania market to Foxconn.
Seki told Nikkei in a separate interview that Foxconn is eyeing a potential mega-partnership involving Honda, Nissan and Mitsubishi – three pillars of Japan’s auto industry.
The move would be a game-changer, especially with Chinese EV brands making aggressive moves in global markets like Europe, Brazil and Thailand.
Foxconn is the world’s largest contract electronics manufacturer and builds devices for major tech companies, including Apple’s iPhones.
But it has been moving to diversify beyond electronics assembly, pushing into areas ranging from electric vehicles to semiconductors and servers.
Back in February, reports emerged that Foxconn had proposed a grand partnership idea following the collapse of Honda-Nissan merger talks.
After negotiations between the pair ended, Foxconn reportedly proposed an alliance between itself, Honda, Nissan and Mitsubishi.
The tech manufacturer touted its expertise in cutting-edge technology as a key advantage for the automakers’ future models.
Foxconn top executive Jun Seki admitted that the company is working with Mitsubishi, but wouldn’t elaborate on the matter.
He did, however, state that Japanese brands make for great partners due to their focus on quality.
Foxconn has previously said it would consider taking a stake in Nissan, but that its main aim was cooperation.
Nissan has been struggling with sales in recent years, brought about by poor management decisions and a failure to adapt to the growing electric vehicle (EV) market.
Worries have been further exacerbated by the Zero-Emission Vehicle, or ZEV, mandate, requiring 28 per cent of car sales to be electric in 2025 — or face fines of £15,000 for every car they fall short on.
Nissan remains an attractive business partner due to its capital ties with Mitsubishi Motors and foothold in south-east Asia.
However, it was previously a top contender for its EV production but recently has struggled to keep up with Toyota and Honda.
