Foxconn Is Willing To Purchase Renault’s Nissan Stock

Taiwanese technology giant Foxconn is in talks to collaborate with several car companies, including France’s Renault and Japan’s Nissan.

Foxconn CEO Yang Liu said it is also ready to buy Renault’s stake in Nissan. Foxconn’s interest in Nissan was leaked to the media in December last year.

Liu was commenting on the developments following media reports last week that Nissan was pulling out of merger talks with Honda and was reportedly willing to work with other partners, which Nissan denied.

According to media reports, the French news agency AFP reported that Foxconn allegedly wanted to buy a 35% stake in Nissan from Renault, but this was allegedly rejected.

Liu confirmed that talks about cooperation with Renault are underway. “We are discussing… cooperation with Renault. Our main goal is to discuss cooperation. Renault happens to own a stake in Nissan, and we have discussed that stake as well,” he said.

When asked whether Foxconn would, if necessary for the sake of cooperation with Renault, buy out his stake in Nissan, he replied that they would consider it, but that this was not their intention.

He also explained that cooperation with Nissan is being considered, but not a merger, and that they are in contact with various car manufacturers, including Nissan and Honda.

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