Foxconn parent company Hon Hai spends more than 1.4 billion yuan to expand capacity distribution in Europe and Chinese mainland

CTOnews.com, December 4, according to Taiwan's Central News Agency, Hon Hai announced on December 2 that it would increase its investment in Czech subsidiary Foxteq CZ s.r.o by about 58.98 million US dollars (about 415 million yuan) and Taiyuan Fuchi Technology by about 1 billion yuan, totaling about 1.412 billion yuan, expanding the layout of production capacity in Europe and China.

CTOnews.com learned that from the Hon Hai announcement, Hon Hai increased its investment in Foxteq CZ s.r.o by $58.98 million through its PCE Paragon solutions Kft company from August 9 to December 2.

In addition, Hon Hai invested 1 billion yuan in Taiyuan Fuchi Technology through Foxconn Precision Electronics (Taiyuan), with a cumulative investment of 1.5 billion yuan in Taiyuan Fuchi.

Taiwan media pointed out that Hon Hai has an R & D and design center in the Czech Republic and produces displays, mobile phones, wireless communications, cloud servers and other products, while Taiyuan Foxconn mainly produces electronic components, mobile communication systems and mobile phones.