Foxconn executive: Hope to collaborate with Nissan on electric vehicles.

The head of Foxconn's electric vehicle business said the company hopes to cooperate with Nissan (NSANY.US), but has not yet made contact with Nissan. Jun Seki, Chief Strategy Officer of Foxconn's electric vehicle, revealed this intention in an interview before a seminar in Tokyo aimed at showcasing Foxconn's electric vehicle strategy to Japanese companies. Seki, a former senior executive at Nissan, pointed out that compatibility with Japanese car manufacturers, especially Nissan, will be a major advantage for Foxconn. Furthermore, Seki also stated that it would be a good idea for Foxconn to engage in broader cooperation with Honda, Nissan, and Mitsubishi, and confirmed that Foxconn is in the process of finalizing an agreement with Mitsubishi to supply them with electric vehicles. Foxconn had previously expressed interest in investing in Nissan, but primarily for cooperation purposes. There were rumors that Nissan's partner Mitsubishi plans to outsource the production of electric vehicles in the Oceanic market to Foxconn. Foxconn also manufactures iPhones for Apple Inc. and artificial intelligence servers for NVIDIA Corporation. In late February, the merger talks between Nissan and Honda Motor Co., Ltd. Sponsored ADR (HMC.US) were officially terminated, abruptly ending a potential partnership that could have created one of the world's largest automakers. The failure of the deal had a particularly severe impact on Nissan. Since the resignation of Carlos Ghosn in 2018, Nissan has struggled with weak sales, overcapacity, outdated models, lack of popularity, and frequent changes in leadership. The struggles of Nissan became evident at the end of last year, when the company reported a 94% drop in net profit for the first half of the year, announced plans to lay off 9,000 employees, and reduce production capacity by 20%.