Foxconn invests in chip factory to bet on electric cars

Hon Hai Precision Industry, better known as Foxconn, announced a $25.78 million equity investment in semiconductor maker Dagang NeXchange, DNeX. As of now, the Taiwanese will control 5.03% of the brand, according to the website DigiTimes.

Founded in Malaysia, DNeX is to be used especially in fields known in the industry as “3+3” — expression for the three key areas of electric cars, digital health and robots, developed from three technologies: artificial intelligence, semiconductors and new generation communications.

More specifically, Foxconn wants to expand its dominance in electric cars, a growing industry in many parts of the world. The company is especially interested in an 8-inch wafer factory from a partner brand, SilTerra, which can feed this sector from less demanding production processes.

Until 2023, the company even intends to start taking care of its own cars.

chip crisis

Foxconn is not just thinking about the future: it is also suffering from the crisis in the semiconductor sector and has even warned the Apple, which is its current main trading partner, that the chip shortage will worsen in 2021.

TSMC, another giant in the processor sector, has also already warned that it will prioritize orders from Apple and the automotive industry in the coming years.

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