TMTPOST -- Foxconn, the Taiwanese company officially known as Hon Hai Precision Industry Co. and the maker of iPhones, is in discussions with Renault SA, the largest shareholder of Nissan Motor Co., about the potential sale of Renault’s stake in the Japanese automaker, according to Taiwan’s Central News Agency (CNA), citing unnamed sources. The report follows news that Nissan, alongside fellow Japanese carmaker Honda Motor Co., is considering a merger that could create a formidable rival to Toyota in Japan and strengthen the combined entity’s global competitive position. However, Foxconn’s interest in Nissan could complicate the situation. Sources say Foxconn has separately approached Nissan about acquiring a stake in the company. The tech giant has been making significant investments in electric vehicle (EV) manufacturing, and with Nissan facing financial difficulties—including lowered earnings forecasts and plans to cut 9,000 jobs worldwide—the automaker may be seeking a financial rescue. CNA reports that Jun Seki, chief strategy officer of Foxconn's EV division, informed Nissan of Foxconn's interest in purchasing its shares. However, Nissan reportedly did not respond positively to the proposal. As a result, Seki has turned to Renault, which holds a 36% stake in Nissan, as a potential partner for the deal. Seki and his team are currently in negotiations with Renault in France, according to the report. Renault’s stake in Nissan is a remnant of a long-standing alliance between the French automaker, Nissan, and Mitsubishi Motors Corp.