The logo and name of Hon Hai Precision Industry Co, also known as Foxconn, is pictured outside a company office in Taipei on Jan. 4. While prices of components and raw materials have increased, the impact on Hon Hai will be limited, Liu said. To reduce its reliance on consumer electronics, Hon Hai has been searching for new growth drivers and it has identified electric vehicles as a key emerging industry. Hon Hai said in a statement that it has signed a framework agreement with Fisker to establish an electric vehicle production site in the US with both sides using the MIH Open Platform promoted by Hon Hai for EV development. Fisker is expected to secure semiconductor supplies through its partnership with the company, Hon Hai said.

Source: Taipei Times May 14, 2021 15:56 UTC