The Foxconn name may not sound too much, but if you have an iPhone, it is very likely that you have left one of its factories. He is the largest manufacturer for the world’s contract and A key Apple partner. From its plants, this Taiwanese company assembles each piece: TSMC processors, Samsung screens, amperex batteries and other essential components to shape the star device of the apple signature.
Foxconn not only assembles products for Apple. It is also behind Microsoft, Amazon, Google, Dell, Sony and HP devices. But its ambition goes beyond electronics. According to Financial Times, the Taiwanese giant has been trying to enter the automotive industry for years and is now about to achieve it. In fact, the media ensures that “in the coming weeks” will announce an agreement with Mitsubishi Motors.
Mitsubishi and Foxconn, one step away from closing an agreement
We recently knew about Mitsubishi for a movement that could have changed the industry. The Japanese brand signed a memorandum of understanding to explore a historical fusion with Nissan and Honda, a strategy to face the difficulties it is going through in full electric car expansion. The agreement did not prosper, but Foxconn soon appeared on the scene as a key actor in the middle of this complex situation.
Initially it was speculated with the possibility that Foxconn acquired a participation in Nissan to strengthen his presence in the automotive. However, the company has made it clear that its intention with the Japanese manufacturer is part of a collaboration and not in a purchase. Now all looks are put in Mitsubishi, where Nissan, one of his greatest shareholders, could have an influence on the direction of this agreement.
Foxconn, on the other hand, sees in Mitsubishi a partner with experience in the automotive industry that would allow him to continue expanding his business. Although its main approach has been electronics, the Taiwanese company already manufactures electric vehicles for customers in its country. However, until now he had no links with traditional manufacturers. If the agreement is specified, it will take a key step in its Diversification strategy.
The president of the company that assembles electronic devices, Young Liu, left a key track about this movement. At the beginning of the month, he advanced to investors who were in advanced negotiations with a Japanese manufacturer and that the signing of the contract was expected in “one or two months.” Although he did not mention the company’s name, everything points to Mitsubishi Motors. Now we just have to wait for official confirmation.
Images | BezeVision | Tan Xin (CC BY-S 4.0)
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