AN iconic car firm “on the brink of collapse” could be merged with a billion dollar tech giant that makes Apple’s iPhones.

Struggling Nissan is still looking for investors after a breakdown in merger talks with Honda recently.

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However, there may still be hope for Nissan’s survival as a new lifeline has potentially emerged.

Japanese paper Nikkei reports that that Taiwanese electronics manufacturer Foxconn may be the right suitor for Nissan.

Foxconn, best known for building the iPhone for Apple, has reportedly proposed a new partnership with Honda, according to the outlet.

It would look to create a four-way partnership that would bring Nissan into the fold, along with Mitsubishi Motors.

Foxconn is the world’s largest contract electronics manufacturer and builds devices for major tech companies, including Apple’s iPhones.

But it has been moving to diversify beyond electronics assembly, pushing into areas ranging from electric vehicles to semiconductors and servers.

Earlier this month, Foxconn said it would consider taking a stake in Nissan for cooperation.

“If cooperation requires it (purchasing Nissan shares), we will consider it,” Foxconn chairman Young Liu told reporters.

The Taiwanese tech giant reportedly asked Renault to sell its 35 percent stake in Nissan in December but was knocked back before the merger talks were announced.

Talks between Nissan and Honda broke down after two months of negotiations.

Merger talks between the two motoring giants were cancelled this month, with one senior Nissan official strongly objecting to the “rude things” his company had been told.

A merger with Honda would have cut costs for both companies, but there were reportedly two key reasons behind the collapse in talks.

Firstly, discomfort came from Honda’s demand that Nissan would become its subsidiary, something the latter felt went against previous agreements, reports The Japan News.

Secondly, Honda also told Nissan to restructure its business and abandon its original hybrid vehicle (HV) system, e-Power, in order to adopt Honda’s HV system.

Nissan has been struggling with sales in recent years, brought about by poor management decisions and a failure to adapt to the growing electric vehicle (EV) market.

Worries have been further exacerbated by the Zero-Emission Vehicle, or ZEV, mandate, requiring 28 per cent of car sales to be electric in 2025 — or face fines of £15,000 for every car they fall short on.

Nissan remains an attractive business partner due to its capital ties with Mitsubishi Motors and foothold in south-east Asia.

However, it was previously a top contender for its EV production but recently has struggled to keep up with Toyota and Honda.

The company published its financial outlook for the year ending in March and a net loss of hundreds of millions of pounds has been predicted.

Industry insiders have revealed that Nissan is now open to mergers with other automotive or technology firms.

One of the potential companies is Foxconn, also known as Hon Hai Technology Group.

This follows the 9,000 job losses that were witnessed at Nissan.

Without much-needed support, a Nissan official has claimed that the firm only has “12 to 14 months to survive”.

The brand also runs the UK’s largest car factory in Sunderland but pressure from the Government’s EV sales targets has played a part in Nissan’s woes.