Fagor 8040 Lathe Threading

[K&T EB]

I have a lathe with a Fagor 8040 and an ancient Fanuc spindle drive and motor. The fanuc system has let the smoke out for the last time and I would like to update the system. Can I use a plain 3 phase motor and a vector drive vfd with encoder feed back?

[DareBee]

That is how my lathe is set up.
No problems.