06:55 AM EST, 12/19/2024 (MT Newswires) -- Honghai, the parent company of Foxconn, is in negotiations to acquire a portion of Nissan's equity from Renault, the Japanese automaker's largest shareholder, Taiwan's Central News Agency reported on Thursday.

The report said that Liu Yangwei, chairman of Honghai, has authorized its electric vehicle strategy arm, Guan Run, to lead the talks with Renault in France.

It added the discussions follow previous unsuccessful attempts to secure approval directly from Nissan.

Nissan's upcoming board meeting could affect Honghai's plans, as the company will decide whether to approve a merger with Honda ( HMC ) , which could impact the equity deal, Central News Agency said, citing industry insiders.

Renault currently holds about 35% of Nissan's shares, with a portion held by the French Trust Bank, according to Central News Agency.

Foxconn, Renault, Nissan, and Honda ( HMC ) did not immediately reply to MT Newswires' request for comment.