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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.

Read More on The Wall Street Journal