Foxconn plans $800 mln investment in southern Taiwan
FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu/File Photo
Foxconn 2317.TW 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 AAPL.O supplier and iPhone assembler, has big ambitions in the EV market as it seeks to diversify its revenue base.
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