The new firm, named Foxconn New Energy Automobile Industry Development (Henan) Co, was established on January 4 with a registered capital of 500 million yuan (US$70 million), according to public records in the National Enterprise Credit Information Publicity System.
Its business covers car component manufacturing and development, motor production and NEV sales, among other areas.
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Apple supplier Foxconn to build ‘AI factories’ using US hardware leader Nvidia’s chips and software
Apple supplier Foxconn to build ‘AI factories’ using US hardware leader Nvidia’s chips and software
Foxconn confirmed the report, adding that the Henan subsidiary was disclosed in December 2023 to the Taiwan Stock Exchange.
The world’s largest contract electronics manufacturer is accelerating its move into the automobile industry amid weakening demand for smartphones and consumer gadgets.
Foxconn plans to start building new factories for smartphones and electronics goods in the cities of Zhoukou, Kaifeng and Jiyuan in Henan, according to a list of major construction projects in 2024 released last week by the provincial Development and Reform Commission.
