Nissan and Foxconn are in talks for Foxconn to potentially build its own electric vehicles at a Nissan factory in Japan, specifically at Nissan's underutilized Oppama plant in Yokosuka.
Nissan plans to reduce its global factory footprint from 17 to 10 plants by fiscal year 2026, aiming to cut 500 billion yen ($3.4 billion) off its operating costs. This shift is part of Nissan's strategy to become leaner and more competitive in the EV market.
Foxconn, known for iPhone assembly, is increasingly focusing on the EV industry. The discussions do not involve joint ventures or ownership stakes; instead, Foxconn would utilize Nissan's plant to manufacture EVs, potentially including models for other clients or for Foxconn's brand.
Foxconn has previously secured deals to develop EVs with Mitsubishi and owns a facility in Ohio. If the agreement with Nissan proceeds, it could mark a significant step for Foxconn in its automotive aspirations on the home turf of a notable Japanese automaker.