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    2354   TW0002354008

FOXCONN TECHNOLOGY CO., LTD.

(2354)
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Foxconn invests $36 mln in EV partnership with Gigasolar

06/15/2021 | 06:10am EDT

TAIPEI, June 15 (Reuters) - Taiwan's Foxconn said a subsidiary has invested T$995.2 million ($36 million) in Gigasolar Materials Corp to develop electric vehicle (EV) battery materials.

Foxconn, Apple's main iPhone maker, said the investment via a private placement through a Taiwan-based subsidiary will make it the second-largest shareholder in Gigasolar, known for manufacturing solar cell materials.

The two companies will jointly develop materials for electric cars, Foxconn said in a statement on Tuesday.

Foxconn has identified electric vehicles as a key new business and has struck several deals with companies, including Italian carmaker Stellantis and Thailand's state-run energy group PTT.

The Taiwanese company aims to provide components or services to 10% of the world's electric cars by 2025 to 2027, Foxconn chairman Liu Young-way said in October, vowing to lower manufacturing and other costs with its assembling know-how as the world's largest contract electronics manufacturer. (Reporting by Yimou Lee; Editing by Alexander Smith and Bernadette Baum)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.23% 145.52 Delayed Quote.9.67%
FOXCONN TECHNOLOGY CO., LTD. 0.97% 62.2 End-of-day quote.16.48%
GIGA SOLAR MATERIALS CORP. -3.27% 222 End-of-day quote.8.82%
HON HAI PRECISION INDUSTRY CO., LTD. 2.73% 113 End-of-day quote.22.83%
PTT PUBLIC COMPANY LIMITED 0.72% 35 End-of-day quote.-17.65%
STELLANTIS N.V. 1.11% 16.37 Delayed Quote.11.66%
All news about FOXCONN TECHNOLOGY CO., LTD.
07/30HON HAI PRECISION INDUSTRY : Foxconn Prices $700 Million Convertible Bond Issue
MT
07/26HON HAI PRECISION INDUSTRY : Foxconn Unit Buys More Hongfucheng Technology Share..
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07/23Foxconn Technology Co., Ltd. Announces the Resignation of the Company's Insti..
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07/23Foxconn Technology Co., Ltd. Approves Distribution for 2020
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07/22GEELY AUTOMOBILE : Nasdaq-LIsted Luokung to Provide Driverless Testing Services ..
MT
07/22HON HAI PRECISION INDUSTRY : Foxconn in Talks to Form Electric Vehicle Drive Sys..
MT
07/22FOXCONN TECHNOLOGY CO., LTD. : Ex-dividend day for final dividend
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07/21MARKET CHATTER : Alibaba, Tencent, Others Pledge Nearly $300 Million in Aid to C..
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07/21HON HAI PRECISION INDUSTRY : Foxconn in Talks to Set Up Electric Vehicle JV with..
MT
07/21Nidec, Foxconn Mull Joint Venture to Sell EV Traction Motors
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More news
Financials
Sales 2021 116 B 4 147 M 4 147 M
Net income 2021 7 340 M 263 M 263 M
Net cash 2021 59 535 M 2 132 M 2 132 M
P/E ratio 2021 11,5x
Yield 2021 3,84%
Capitalization 87 981 M 3 151 M 3 150 M
EV / Sales 2021 0,25x
EV / Sales 2022 0,21x
Nbr of Employees -
Free-Float 66,1%
Chart FOXCONN TECHNOLOGY CO., LTD.
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Technical analysis trends FOXCONN TECHNOLOGY CO., LTD.
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 5
Last Close Price 62,20 TWD
Average target price 68,50 TWD
Spread / Average Target 10,1%
EPS Revisions
Managers and Directors
Han Ming Li General Manager & Director
Tzu Hung Li Head-Finance
Chih Chien Hung Chairman
Sung Shu Lin Independent Director
Yao Ching Chen Independent Director
Sector and Competitors