Can Foxconn Save Nissan? The iPhone Maker Eyes a New Assembly Line

The very same Foxconn that assembles the guts of millions of iPhones may soon find itself rescuing Nissan instead. One of the world’s most prominent electronics giants now has ambitions that reach beyond circuit boards to car production lines.

According to Asian media reports, talks are underway for Foxconn to use Nissan’s Oppama plant in Kanagawa, Japan, as a manufacturing base for its electric vehicles. The factory, which dates back to 1961 and once spearheaded the mass production of the electric Leaf, now finds itself on life support. Nissan’s new CEO, Ivan Espinoza, has unveiled a sweeping cost-cutting plan that includes shutting down 17 factories worldwide and laying off 15 percent of the workforce. Oppama is at the top of that hit list.

Enter Foxconn, which has spent the past few years dreaming of a foothold in the auto industry. After debuting its first electric models in 2022, the company needs production capacity and according to sources, the Oppama facility could be just the lifeline it’s looking for. If Nissan gives the green light, not only would the factory survive, but so would 3,900 jobs. That’s something you won’t find in Espinoza’s spreadsheets.

Nissan is in such fragile financial shape that it has delayed payments to suppliers and is now relying on external capital just to keep the lights on. While there’s been no official confirmation of a Foxconn-Nissan partnership, there’s been no denial either. And sometimes silence speaks louder than words.

Even more intriguing were last year’s rumors that Foxconn might not just partner with Nissan but buy it outright. Not a handshake deal, but an acquisition.