Reported 3 days ago
Foxconn Technology Group is investing 600 million yuan (about US$82 million) in a new electric vehicle battery plant in Zhengzhou, China, aiming to diversify its business beyond iPhone production. This investment, made through its Foxconn New Energy Battery unit, represents a strategic shift towards electric vehicles, semiconductors, and robotics. The company reaffirms its commitment to Zhengzhou after disruptions in iPhone manufacturing and aims to capture a 5% share of global EV manufacturing by next year.
Source: YAHOO