For power electric cars, Hon Hai's company spent 186 million euros to acquire German automotive components factory.

CTOnews.com, January 3, according to Taiwan's Central News Agency, Hon Hai's Hongteng Precision Technology (FIT) today announced the acquisition of PRETTL SWH Group, a German car wiring harness factory, for 186 million euros (about 1.373 billion yuan), expanding the strength of key components of electric vehicles and is expected to complete the acquisition process in the second quarter.

Hongteng said that the acquisition could generate annual revenue contribution of about 350 million euros (2.583 billion yuan) to 400 million euros (2.952 billion yuan) for Hongteng in the short term, and is expected to create a better product portfolio in the future, increase Hongteng's overall gross profit margin, and expand Hongteng's global manufacturing, sales and technical layout of key components of electric vehicles.

According to reports, the sensor department, vehicle power management department and connector data transmission system department of PRETTL SWH Group correspond to Hongteng's existing electric vehicle strategy development direction of "power management, vehicle networking and man-machine interface" respectively.

CTOnews.com learned that PRETTL SWH Group, headquartered in Pfulingen, Germany, has 18 branches in more than a dozen countries and regions and has about 8000 professional employees around the world.