Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 24, with the continuous development of electric vehicles, many companies have begun to enter the field of electric vehicles and actively expand their market share in the electric vehicle industry. Among them, Hon Hai Group moves frequently. On September 1, Model C, the first electric car developed by Hon Hai and Honghua, a subsidiary of Yulong, officially began pre-order.

Hon Hai Group announced that its subsidiary Foxconn Holdings BV will set up a second joint venture with Stellantis, the world's fourth-largest carmaker, for $75 million (about 534 million yuan) to deepen its layout cooperation in the electric vehicle sector, Taiwan's Economic Daily reported yesterday. Hon Hai said its subsidiaries Foxconn Holdings BV and Stellantis would each own 50 per cent of the subsidiary, and Hon Hai pointed out that this was a long-term investment.

It is reported that Hon Hai Group has announced a second joint venture with Stellantis in 2021 to further the cooperation between the two sides. Prior to this, Hon Hai and its Fuzhikang have joined hands with Stellantis to form a joint venture Mobile Drive, focusing on advanced intelligent cockpit and vehicle networking services and other related applications. At the same time, Hon Hai announced an increase in its battery materials company, Core Technology, with a total transaction value of 474 million New Taiwan dollars (107 million yuan).

As previously reported by CTOnews.com, Hon Hai Chairman Liu Yangwei said on August 18 that the group's overall performance this year is expected to break through the NT $6 trillion (about 1.36 trillion yuan) mark, a new record. Liu Yangwei believes that the mobile phone industry was once brilliant, but now it is going downhill, and the new industry that will continue the mobile phone industry in the future will be the electric vehicle industry.

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