Hyperdrive
Nissan Climbs on Reports of Foxconn’s Renewed Interest in Tie-up
- Taiwan manufacturer may be back in play after deal falls apart
- Hon Hai sent representative to meet with Renault, CNA says
Nissan, which will report third-quarter earnings next week, announced a 94% drop in net income for the first half and has said it will need to dismiss 9,000 workers and cut a fifth of its manufacturing capacity.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Nissan Motor Co.’s shares climbed after a report said Hon Hai Precision Industry Co. was making another pass at the flailing carmaker as its tie-up with Honda Motor Co. falls apart.
Nissan rose as much as 6% after CNA reported that Hon Hai Chairman Young Liu instructed former Nissan executive Jun Seki to connect with French carmaker Renault SA, which holds about 36% of Nissan’s stock.