iPhone maker Foxconn doubles down stake in struggling car company
The report comes as two Japanese auto giants reportedly failed to merge.
A few days before Christmas in 2024, Honda (HMC) and Nissan (NSANY) held a press conference to announce that they had signed a memorandum of understanding that laid out the plans for a possible merger. Under the proposed deal, the two Japanese automakers would link up under a common parent company by August 2026, similar to how the 14 brands under Stellantis formed.
Like Stellantis (STLA) , the marriage of Honda and Nissan was framed as a way for the two distinct automakers to share technology and software resources as competition from Chinese marques and from trailblazers like Tesla (TSLA) have begun to chip away at its dominance.
