Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels

Foxconn, the Taiwanese electronics giant behind Apple’s iPhone, wants Nissan—the problem is, so does Honda.Eager to expand its electric vehicle footprint, Foxconn has already approached Nissan directly about acquiring a stake in the Japanese automaker.