New Energy Vehicles (NEVs) in China

GulfLander said:

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Foxconn Said to Have Approached Nissan to Take Controlling Stake​

(Bloomberg) -- Hon Hai Precision Industry Co., the Taiwan-based manufacturer of iPhones and other electric products known as Foxconn, has approached Nissan Motor Co. to take a controlling stake, a person with knowledge of the matter said.

Foxconn, which has been investing heavily in factories to build electric vehicles, would be interested in the entirety of the maker of Pathfinders, Sentra sedans and GTR supercars — not just the Japanese firm’s plants and equipment, the person said, asking not to be identified because the proposal isn’t public.

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It’s not clear whether Nissan has engaged in substantial discussions with Foxconn, or already rebuffed the Taiwanese company’s approach. A spokesperson for Nissan declined to comment. A representative for Foxconn wasn’t immediately available for comment.

News of Foxconn’s interest emerged as Honda Motor Co. and Nissan announced they have entered potential merger talks, which would better position the combined company to face competitive challenges around the world, including in China, where both automakers are suffering. The Nikkei reported that Foxconn’s interest in Nissan accelerated the two Japanese companies’ efforts out of fears that Nissan may be vulnerable to a takeover by the Taiwanese firm.

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Honda is considering several options that may also involve a capital tie-up or the establishment of a holding company, Executive Vice President Shinji Aoyama said on Wednesday.

Reports of the potential deals cap a tumultuous month for Nissan, which has seen a steep drop in profitability, a falling share price, management overhaul and a new restructuring plan. Nissan stock jumped as much as 24%, the most on record, on the back of the possible Honda merger news.

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For Foxconn, taking a controlling stake in a Japanese firm wouldn’t be unprecedented. In 2016, it took a two-thirds stake in electronics maker Sharp Corp., handing it a number of benefits including a well-known consumer electronics brand, LCD display production capacities and intellectual property. It has been reducing that interest slowly over time but is still the top shareholder.

Japanese business publication Diamond Online reported Foxconn’s proposal earlier Wednesday.

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coolgod said:

That's not the biggest news. The biggest news is that the Chinese are going to buy up Nissan.

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Foxconn Said to Have Approached Nissan to Take Controlling Stake​

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• Spain: BYD Seal U DM-i was awarded the "Best Plug-in Hybrid of the Year" by a company called MQC.

• Japan: BYD Seal is the first Chinese care to win the "Japan Car of the Year TOP 10" award.

• Australia: BYD Dolphin is "the greenest EV" according to a study.

• South America: BYD Dolphin Plus is the first EV to win a 5-star rating in Latin NCAP.

tphuang said:

Why do we care if Foxconn buys Nissan?

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henrik said:

foxconn is a sneaky company, as they have aspirations of assembling the Apple car which has been cancelled. They know they don't have the experience of doing so, and they are way behind BYD and other Chinese car makers. In 2022, they tried to form a partnership with Lordstown Motors to manufacture electric vehicles. But the deal didn't work out. Now they are trying to buy Nissan just to get into the industry.

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tphuang said:

sure, my point is that I'm not cheering on them at all. I would glad they waste billions on Nissan and lose money hand over fist.

December market research for different brands in China.
Tesla and Li Auto have the worst back logs. They have no order book and Q1 will see huge declines.
XPeng looking good for M03 and P7+ for a while

https://twitter.com/i/web/status/1869513276066824439

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coolgod said:

I mean technically Foxconn is a Chinese company, and they are producing the "Model B" EV. They are also buying one of the big three Japanese auto makers. It is a big deal even though their car is shit.

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