Electronics manufacturer Foxconn Technology Co is eyeing Japanese automakers, including Nissan Motor Co (OTC:NSANY) (OTC:NSANF), to form a Japan-Taiwan alliance.
According to Nikkei Asia, Foxconn EV chief strategy officer Jun Seki revealed the agreement during a Tokyo seminar on Tuesday.
Foxconn, also known as Hon Hai Precision (OTC:HNHAY), is currently competing with Chinese brands focused on battery-powered vehicles, looking to win market share in Europe, Brazil, and Thailand.
Foxconn, an Apple Inc (NASDAQ:AAPL) supplier, plans to launch an electric bus and a battery-powered microbus in Japan in 2027, Reuters cited Seki.
It focuses on providing business-to-business services with EV operations instead of targeting consumers directly.
Seki told Reuters that Foxconn should be part of a potential broader partnership with Honda Motor Co (NYSE:HMC), Nissan, and Mitsubishi Motors (OTC:MTSUY) and confirmed that Foxconn was finalizing a deal with Mitsubishi to supply it with EVs.
Foxconn was working with Mitsubishi, Seki said during Wednesday’s event.
President Donald Trump’s 25% auto tariff threatens to disrupt the global automotive industry, with analysts warning of sharp price increases and declining sales.
Goldman Sachs expected imported vehicle prices to surge by $5,000 to $15,000, while even U.S.-built cars could see cost hikes of $3,000 to $8,000 due to foreign-made parts. According to analyst Akira Kishimoto, Japanese automakers could face a potential hit of 4.46 trillion yen (about $29.44 billion).
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