Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Foxconn plans $800 million investment in southern Taiwan

Published 04/09/2023, 02:57 AM
Updated 04/09/2023, 03:00 AM
© Reuters. FILE PHOTO: A man walks out from a Foxtron Model T eBus during an organized media visit to Foxconn's headquarters, in New Taipei City, Taiwan December 22, 2022. REUTERS/Annabelle Chih
AAPL
-

TAIPEI (Reuters) - Foxconn is planning to invest T$25 billion ($820 million) in 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, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for making electric buses and batteries for EVs.

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

($1 = 30.3930 Taiwan dollars)

Latest comments

oh no, arent the big bad ccp gonna invade the island and force the muricans to destroy all ur semiconductor factories and khill all your engineers?!?
hi
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.