Foxconn’s New EV Partners, Affordability At 2021 Levels, People More Than Burgers

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Today we’re talking about how tech giant Foxconn is getting ready to reveal new EV partnerships and speculate on who those could be. Plus, we cover affordability easing and In N Out’s servant leadership mentality.

• Around 80 tornados were reported as a result of this past weekend’s powerful storm system, leaving a trail of destruction across the Central and Eastern US. As the communities affected begin to rebuild, we know dealers will do what they do best—step up, lend a hand, and take care of their neighbors. At ASOTU, we’re here to amplify their efforts, share their stories, and support in any way we can.

• Taiwanese tech giant Foxconn, better known as Apple’s iPhone manufacturer, is reportedly closing in on EV partnerships with two Japanese companies. This news follows speculation about a possible alliance with Nissan or Honda, especially after their failed merger talks.
  • Hon Hai Precision Industry Co. (Foxconn’s official name) is expected to finalize the deals within two months, according to Chairman Young Liu.
  • Liu did not confirm the companies but emphasized contract design and manufacturing services as part of the agreements.
  • The March 11 appointment of Ivan Espinosa as Nissan’s CEO could pave the way for new negotiations.
  • Foxconn is making global EV plays, having already signed deals with ZF Group (axle systems), Stellantis (semiconductors), and Infineon (silicon carbide chips), and aiming to start North American production of its Model C crossover in late 2025 to counter rising U.S. tariffs.
  • Liu: “We are not looking to acquire Nissan but are interested in working with them.”

• New-vehicle affordability improved in February, reaching its best level in over three years, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index.
  • The average price of new vehicles fell by 1.3% for the month, improving affordability despite higher interest rates.
  • Auto loan rates rose slightly to 10.16%, the highest in four months, but income growth (+3.5% YoY) helped offset this.
  • Typical monthly car payments declined to $748, down 1.1% month-over-month and 1.3% YoY.
  • It now takes 37.2 weeks of median income to buy a new vehicle, an improvement from 39.0 weeks a year ago.

• On the heels of being named the 8th Best Company to Work For, In-N-Out Burger CEO Lynsi Snyder credits her “servant leadership” approach as the driving force behind the company’s success. The heiress views her employees as family and follows a leadership philosophy that prioritizes the employees over executive demands, or as we would say around here: “Love People More Than You Love Hamburgers”
  • Servant leadership focuses on employee growth and well-being, a value Snyder says she inherited from her fami

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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