TAIPEI (Taiwan News) — Taiwan's Foxconn said Wednesday that the company’s goal in a possible deal with Nissan is cooperation, not acquisition, after the Japanese automaker backed out of negotiations with Honda. 

Nissan is reportedly looking to work with new partners, while Foxconn, the world's largest contract electronics maker, is exploring electric vehicles to diversify its business. Foxconn Chair Young Liu (劉揚偉) told reporters, "Purchasing its shares is not our aim; our aim is cooperation," per Reuters. 

Liu said Foxconn’s goal is not to become an auto "brand." He said it would provide commissioned design and manufacturing services.

Foxconn is reportedly in contact with France's Renault, which holds 36% of Nissan.

Nissan, whose profits dropped 90% last year, has struggled to survive as it competes with EVs, software-driven cars, and rising Chinese automakers.