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Foxconn plans US$800 million investment in southern Taiwan

Published Sun, Apr 9, 2023 · 03:43 PM
    • Workers assembling an truck at Foxconn's production facility in Lordstown, Ohio, US; the company has big ambitions in the EV market as it seeks to diversify its revenue base.
    • Workers assembling an truck at Foxconn's production facility in Lordstown, Ohio, US; the company has big ambitions in the EV market as it seeks to diversify its revenue base. PHOTO: REUTERS

    FOXCONN is planning to invest NT$25 billion (S$1 billion) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday (Apr 9).

    The company, formally called Hon Hai Precision Industry, said the investments in Kaohsiung will include plants for making electric buses and batteries for EVs.

    Foxconn, a major Apple Inc supplier and iPhone assembler, has big ambitions in the EV market as it seeks to diversify its revenue base. REUTERS

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