Foxconn Plans $800 Million Investment in Southern Taiwan
Foxconn plans to invest T$25 billion ($820 million) over the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday.
The company, whose official name is Hon Hai Precision Industry Co Ltd, said the investment in Kaohsiung will include factories to make batteries for electric buses and electric cars.
Foxconn, a major Apple Inc supplier and iPhone assembler, has big ambitions in the electric car market as it seeks to diversify its revenue base.
In related news, Terry Gou, the billionaire founder of major Apple Inc ( AAPL.O ) supplier Foxconn ( 2317.TW ), said on Wednesday he would seek the presidential nomination of Taiwan’s main opposition party, the Kuomintang (KMT). a second time.
Gou resigned as head of Foxconn in 2019 and made a presidential bid that year, but dropped out after failing to win the nomination of the KMT, which traditionally favors close ties with China.
Speaking to reporters outside Taiwan’s main international airport in Taoyuan after returning from a week-long trip to the United States, Gou said the only way to avoid war with China is to ease tensions between China and the United States and have the Democratic Progressive Party ruling Taiwan. (DPP) out of office.
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