Foxconn charges into EV batteries
By Gao Yuan | China Daily | Updated: 2014-07-29 06:50
Foxconn Technology Group is heading to inland Chinese cities in search of profit drivers as the Taiwan-based company looks beyond assembling iPhones and iPads for Apple Inc.
As investors discussed the pros and cons of Foxconn's plant proposal in Bengbu, China's Anhui province, a new investment in the eastern province emerged on Monday.
The world's largest electronics contract manufacturer's battery-making arm agreed to pour more than 2 billion yuan ($323 million) into Anqing to produce lithium batteries, a popular power source for electric cars.
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