Foxconn Announces 600 Million RMB Investment in Zhengzhou Foxconn New Energy Battery Company of China
Foxconn announced today that the group is increasing its investment by 600 million yuan in Foxconn New Energy Battery (Zhengzhou) Co., Ltd. Foxconn stated that this is a long-term investment, made through its subsidiary, Foxconn Precision Electronics (Zhengzhou) Co., Ltd., which will invest in Foxconn New Business Development Group Co., Ltd., and then by Foxconn New Business Development Group Co., Ltd., the investment will be made in Foxconn New Energy Battery (Zhengzhou) Co., Ltd. The investment will be made in stages, with the first investment of 350 million yuan.
It was noted that Foxconn New Energy Battery (Zhengzhou) Co., Ltd. was established on October 24th, with Cui Zhicheng as the legal representative and a registered capital of 600 million yuan, wholly owned by Foxconn New Business Development Group Co., Ltd.
The business scope of Foxconn New Energy Battery (Zhengzhou) Co., Ltd. includes battery manufacturing, battery sales, automotive parts research and development, automotive parts and accessories manufacturing, new energy vehicle electric accessories sales, new energy prime mover equipment manufacturing, and new energy vehicle battery swapping facility sales.
In July of this year, Foxconn Technology Group signed a strategic cooperation agreement with the Henan Provincial Government to accelerate the progress of new business projects. Foxconn will invest in the construction of a new business headquarters building in Zhengzhou, which will house the new business headquarters functions. The first phase of the project is located in Zhengdong New District, with a construction area of about 70,000 square meters and a total investment of about 1 billion yuan.
