On September 1, the first electric car Model C, developed by Hon Hai and Yulon, a subsidiary of Honghua, officially began pre-order. According to a report by Taiwan’s Economic Daily yesterday, Hon Hai Group issued an announcement stating that its subsidiary Foxconn Holdings BV wi

IT Home September 24th news, with the continuous development of electric car , many companies have begun to enter the electric car field and actively expand their market share in the electric car industry. Among them, Hon Hai Group is taking frequent actions. On September 1, pre-orders for Hon Hai and the first electric car advanced by Honghua, Yulon, officially started.

According to a report by Taiwan’s Economic Daily yesterday, Hon Hai Group issued an announcement stating that ’s subsidiary Foxconn Holdings BV will spend US$75 million (about RMB 534 million) to establish a second joint venture with Stellantis, the world’s fourth largest automaker, to deepen its layout cooperation in the electric vehicle field . Hon Hai said its subsidiaries Foxconn Holdings BV and Stellantis will each hold 50% of the subsidiaries, and Hon Hai noted that this is a long-term investment.

It is reported that in 2021, Hon Hai Group has announced a cooperation with Stellantis to establish the second joint venture this time, taking the cooperation between the two parties a step further. Previously, Hon Hai and its Fuzhikang have joined hands with Stellantis to establish Mobile Drive, focusing on advanced smart cockpits and Internet of Vehicles services and other related applications. At the same time, Hon Hai Group announced an increase in capital for its battery materials company, Xinliang Technology, with a total transaction amount of NT$474 million (about NT$107 million).

According to previous reports from IT Home, on August 18, Hon Hai Chairman Liu Yangwei said that the group's overall performance this year is expected to exceed NT$6 trillion (about NT$1.36 trillion) mark, setting a new record high. Liu Yangwei believes that the mobile phone industry was once brilliant, but it is now on a downward trend. In the future, the emerging industry that will continue the mobile phone industry will be the electric vehicle industry.