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Foxconn Starts Building a Plant for Electric-Vehicle Batteries in Taiwan

June 15, 2022

Taiwan’s Foxconn Technology Group started building its first plant to produce electric-car batteries Wednesday, the contract electronics manufacturer’s latest step into the booming electric-vehicle industry.

Foxconn said it plans to invest about 6 billion New Taiwan dollars, equivalent to about $200 million, on battery production lines and a research-and-development center in Kaohsiung city in southern Taiwan.

There, Foxconn will produce lithium iron phosphate batteries, a kind of battery technology touted by Tesla Inc. Foxconn plans to test production of those battery cells at the plant in early 2024, it said.

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