Foxconn is planning to invest T$25 billion ($820 million) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday.
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The company, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for making electric buses and batteries for EVs.
Foxconn, a major Apple Inc supplier and iPhone assembler, has big ambitions in the EV market as it seeks to diversify its revenue base.
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