Nissan weighs Foxconn EV production to save Oppama from closing, Nikkei says

Nissan Motor (OTCPK:NSANY) (OTCPK:NSANF) is in talks with Taiwan’s Foxconn (OTCPK:FXCOF) about a potential electric vehicle partnership that could help keep its Oppama plant in Japan operating, the Nikkei business daily reported on Sunday. The report, which cites an unnamed Nissan source, suggests the collaboration may offer a lifeline to the factory, which employs roughly 3,900 people.

The Oppama facility has been considered for consolidation as part of Nissan’s broader restructuring efforts. However, using its currently idle production lines to manufacture Foxconn-branded (OTCPK:FXCOF) electric vehicles could help protect jobs and maintain relationships with suppliers, Nikkei reported.

Nissan (OTCPK:NSANY) (OTCPK:NSANF) responded to the article by stating the report did not originate from official company information.

In a related development, Mitsubishi Motors (OTCPK:MSBHF) (OTCPK:MHVYF) (OTCPK:MHVIY), a smaller partner in Nissan’s (OTCPK:NSANY) (OTCPK:NSANF) alliance, signed a memorandum of understanding in May with a Foxconn (OTCPK:FXCOF) subsidiary. That agreement involves Foxconn (OTCPK:FXCOF) supplying Mitsubishi with an electric vehicle model.