Foxconn to invest $137.5 million in new Zhengzhou HQ
Taiwan's Foxconn, the world's largest contract electronics maker, has signed a contract with the Henan provincial government to build a 700 acre business headquarters.
The site will primarily focus on the manufacturing of electric vehicles, solid-state batteries, digital health and robotics — all of which are underpinned by next-gen tech such as artificial intelligence, advanced semiconductors and 5G mobile communications.
These sectors are important to Foxconn, which is best known as the world's main manufacturer of Apple products, but which is keen to diversify away into new areas with new customers. Foxconn currently runs the world's largest iPhone factory in Zhengzhou, but has already launched a "trial manufacturing centre" for electric vehicles in the city.
In January, Foxconn created the Foxconn New Energy Automobile Industry Development Co. to formalise its move into the EV market. It also created a specialised EV supply chain, and acquired the former General Motor Co plant in Lordstown, Ohio. In 2021, it unveiled three electric vehicle prototypes made by Foxtron, a joint venture between Foxconn and Taiwanese car maker Yulon Motor Co Ltd.
