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Foxconn Invests US$82 Million in New EV Battery Plant to Diversify Business


Photo by FMT
Photo by FMT

Summary


  • Foxconn is investing 600 million yuan (US$82 million) into a new EV battery plant in Zhengzhou, China.

  • The investment is part of Foxconn's broader strategy to diversify into electric vehicles, semiconductors, and robotics.

  • Foxconn aims to reduce reliance on its Apple contract manufacturing business by expanding into the EV and battery production sectors.


 

Foxconn, the Taiwanese manufacturing giant known for assembling Apple’s iPhones, has announced a significant investment in a new electric vehicle (EV) battery plant in Zhengzhou, China. The company has injected 600 million yuan (approximately US$82 million) into the facility as part of its broader strategy to diversify its business and reduce reliance on Apple.

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