Apple Inc. supplier Foxconn Technology Group signed a strategic cooperation deal with embattled Chinese electric-vehicle startup Byton Ltd. in a transaction that could mark a large bet by the iPhone assembler on the car-making business. The companies, aided by the Nanjing Economic and Technological Development Zone, aim to start mass production of the Byton M-Byte […]
Foxconn hitches bumpy ride with electric vehicles
Broadly speaking, contract-manufacturing for electronics is a low-value business: Foxconn’s net profit margin has been shrinking for years, to nearly 2%. HONG KONG : Foxconn is hitching a bumpy ride with electric vehicles. The $39 billion iPhone-assembler, formally known as Hon Hai Precision Industry , wants to diversify by supplying parts for 10% of the […]
Fiat Chrysler and Foxconn plan Chinese electric vehicle joint venture
MILAN: Italian-American automaker Fiat Chrysler (FCHA.MI) and the parent of iPhone assembler Foxconn plan to set up a joint venture to build electric cars and develop internet-connected vehicles, the two groups said. Fiat Chrysler (FCA) confirmed on Friday it was in talks with Hon Hai (2317.TW) on the potential creation of a 50-50 joint venture […]
SoftBank denies exiting renewable energy JV with Bharti Enterprises, Foxconn
Following the Indian Prime Minister’s 100GW solar and 60GW wind target by 2022, the venture will invest in and develop renewable energy plants across India, SoftBank had said. SoftBank, which had announced forming a joint venture (JV) for renewable energy with Airtel’s parent Bharti Enterprises and Taiwan-based iPhone manufacturer Foxconn in 2015 — SBG Cleantech, […]
Japan cautions Andhra Pradesh against reworking green power pacts
The ambassador’s missive to Jaganmohan Reddy comes on the heels of similar letters from power minister RK Singh. BENGALURU: Japan has cautioned the Andhra Pradesh chief minister that the state’s efforts to cut renewable energy tariffs by reviewing signed-and-sealed contracts has unnerved foreign investors and damaged the business environment. India’s renewable energy sector has seen […]
Apple Convinces Foxconn and TSMC to Use Clean Energy
When you have the clout of Apple, it’s hard for suppliers to say no if your best customer demands a switch to renewable energy sources. Did the iPhone just get greener? Apple, just like all of the other big tech giants, is on a quest to “go green” and achieve 100 percent renewable energy as […]
