Taiwanese Foxconn to buy Renault stake in Nissan

Taiwanese electronics maker Foxconn said on Tuesday it would consider buying Renault’s stake in Nissan if it was a condition for cooperation with either company on electric vehicles.

“We have already held talks about acquiring a stake in Nissan,” Foxconn Chairman Yong Liu told reporters, in the company’s first official confirmation of the talks. “If acquiring a stake is necessary to achieve cooperation, we will consider it, but buying shares is not our primary goal.

Our primary goal is cooperation.” Liu’s comments illustrate Foxconn’s motivations for negotiating an investment in Nissan, after Honda and Nissan’s takeover talks collapsed, reviving the possibility of a deal with the Taiwanese group, according to the Financial Times.