Foxconn (2317.TW) intends to invest T$25 billion ($820 million) in new manufacturing facilities in southern Taiwan over the next three years to support its aspirations for electric vehicles (EVs). According to the company’s announcement on Sunday.
Plants for producing electric buses and EV batteries will be among the investments made in Kaohsiung, according to the business, formally known as Hon Hai Precision Industrial Co Ltd.
Foxconn, a significant supplier to and iPhone manufacturer for Apple Inc. (AAPL.O), has high hopes for the EV industry as it looks to diversify its source of income.
