Taiwan’s manufacturing giant Hon Hai Precision Industry Co., also known as Foxconn globally, has secured regulatory approval for two significant investment plans worth over US$2.2 billion. The Department of Investment Review under the Ministry of Economic Affairs approved a plan to spend about US$1.49 billion on its Singapore subsidiary to invest in another unit called Yuzhan Technology (India) Private Ltd. in India.
The new facility will be used to roll out smartphone components, further diversifying Hon Hai’s production out of China and into India as it seeks to make iPhones and iPhone components. The investment is part of the company’s efforts to expand its global reach, with 223 plants and offices in 24 countries around the world.
Additionally, Hon Hai has obtained approval to allocate US$735 million from its disposal capital to set up a new company in the U.S., Project ETA (DE) LLC, which will focus on data center module production and server assembly businesses. This expansion marks a significant move by the company as it continues to diversify its production capabilities globally.
Source: https://focustaiwan.tw/business/202506240030