India, July 7 -- Japanese automaker Nissan Motor Co Ltd. (NSANF.PK,NSANY.PK) is in talks with Taiwan's electronics major Foxconn to partner on the production of electric vehicles or EVs in Japan, Nikkei reported. The potential joint venture collaboration is expected to save Nissan's Oppama plant from the risk of closure.
Following the news, Nissan Motor shares closed Monday's trading in Tokyo at 336.90 yen, down 5 percent.
Under the proposed partnership, Foxconn would produce its own EVs at Oppama plant. There was another report stating that Foxconn was considering a plan to buy a portion of the Oppama plant.
The struggling Japanese automaker, which reported loss of 670 billion yen for the latest fiscal year, had announced its turnaround...