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Foxconn invests in Zhengzhou to seek revenue sources other than mobile phones

2024-08-06

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Recently, there have been reports that Apple will assemble the high-end models of the iPhone 16 series, iPhone 16 Pro and iPhone 16 Pro Max, in India through its partners this year. If the news is true, it means that Apple's foundry may also transfer production capacity to overseas regions.


Foxconn is the most well-known Apple OEM. Its iDPBG business group is responsible for assembling Apple iPhones in Zhengzhou, Shenzhen and other places. Zhengzhou, Henan is Foxconn's main mobile phone production site. Although Foxconn has also set up factories in India and other places, and may follow Apple's pace to promote the production of mobile phones and other electronic products overseas, in China, Foxconn is actually also looking for new sources of income besides Apple mobile phones. Recently, it has increased its investment in new energy vehicles, robots and other fields.

In late July this year, Foxconn announced that the signing ceremony of the "Strategic Cooperation Agreement between Henan Provincial Government and Foxconn Technology Group to Accelerate the Promotion of New Business Projects" was held in Zhengzhou. The strategic cooperation focuses on the transformation and implementation of Foxconn's "3+3" strategic industries, namely the three emerging industries of "electric vehicles, digital health, and robots" and the three new technology fields of "artificial intelligence, semiconductors, and new generation mobile communications" as the development focus.

According to Foxconn, Foxconn will invest in the construction of a new business headquarters building in Zhengzhou, which will host the functions of the new business headquarters. The total investment of the project is about 1 billion yuan. Focusing on the implementation of the "3+3" strategy, Foxconn will focus on the layout of new energy vehicle trial production center, solid-state battery and other projects in Zhengzhou Airport Economic Comprehensive Experimental Zone in the near future.

The reporter noticed that in April 2023, Foxconn's new business headquarters was unveiled in Zhengzhou, focusing on emerging industries such as electric vehicles, batteries, and robots. In June 2023, Foxconn's new business headquarters began the first batch of recruitment, and the recruitment positions involved new energy three-electric, energy storage battery business, etc. In the same year, Foxconn announced an investment of no more than 200 million euros in a 50% stake in ZF Automotive Chassis (Shanghai) Co., Ltd.

Foxconn has long been planning in the automotive field. In 2005, Foxconn acquired Antai Electric, one of the four largest automotive wiring harness companies in Taiwan. Subsequently, Foxconn became a supplier to automakers such as Tesla. In addition, Foxconn also established Hon Hua Advanced Technology Co., Ltd. in a joint venture with Yulon Motors, and released three new cars in 2021, including Model C, SUV Model E and Model T. The layout of the electric vehicle industry in Henan this time may be a preparation to focus more on the automotive business in China.

In terms of robots, Foxconn proposed the "Million Robot Plan" in 2011, planning to put 1 million robots into the production line. On May 11, 2024, Foxconn Zhongyuan Intelligent Manufacturing Research Institute was established in Zhengzhou, focusing on automated robots.