Foxconn will consider acquiring Renault’s stake in Nissan if it is a condition for working with either carmaker on electric vehicles, the Taiwanese contract electronics manufacturer said on Wednesday.

Liu also said Foxconn was looking into a co-operation with Nissan, not a merger. The head of Taiwan's Foxconn said on Wednesday it was open to buying French auto giant Renault's stake in Japan's Nissan after reports last year said it had made an approach for the company.

Foxconn, or Hon Hai Precision Industry, has shown interest in buying Renault SA's stake in Nissan Motor Co. The deal could give a much-needed boost to the struggling Japanese automaker. Hon Hai Chairman Young Liu revealed the news at a recent company event.

Speaking to reporters at Foxconn’s corporate headquarters in New Taipei, outside the capital Taipei, its chairman Young Liu said his company was not looking to acquire Nissan, but it would consider taking a stake if that is a condition for working with either Nissan or Renault on electric vehicles.