Hon Hai (2317-TW) Announced today (24th) that its subsidiary Foxconn EV Technology invested 33 million US dollars, aboutNew Taiwan dollar 1.02 billion yuan, obtained the equity of Foxconn EV System for reinvestment, and continued to expand the group’s electric vehicle layout.
Foxconn EV Technology has invested a total of US$41.932 million in Foxconn EV System from January 25 to May 30. After this capital increase, Foxconn EV Technology holds Foxconn EV System amount to US$74.932 million, with a 100% shareholding ratio.
It is understood that Foxconn EV Technology Inc. is the main subsidiary of Hon Hai’s Ohio plant. The plant will begin mass production of Lordstown’s electric pickup Endurance in the second half of the year; it will gradually import INDI EV prototypes and Monarch’s electric agricultural vehicles. There are new Fisker models and more.
Hon Hai Chairman Liu Yangwei pointed out at the latest law conference that next year will be a very critical year for Hon Hai’s electric vehicle business, and there is still a potential customer of electric vehicles from a traditional car factory that may be about to land.