TAIPEI (Taiwan News) — Foxconn said Monday that its subsidiary Fii Holdings USA bought equity in eight US companies for an NT$11.3 billion (US$344 million) investment.
Industry analysts said the electronics maker is expanding operations in the US in response to policy shifts anticipated with President-elect Donald Trump, per CNA. In November, Foxconn Chair Young Liu (劉揚偉) said at a forum the impact of tariffs would fall on its clients, per Reuters.
“Clients may decide to shift production locations but looking at Foxconn’s global footprint, we are ahead,” he said. “As a result, the impact on us is likely smaller than our competitors.”
In recent years, Foxconn has expanded its operations globally to lessen its dependence on China, per New York Times.
On Nov. 26, Foxconn announced its subsidiary Foxconn Assembly bought land and facilities in Harris County, Texas. Sources say the purchase will expand the company’s AI and server production in the US.
On Dec. 11, the Thai government approved Foxconn’s US$306 million investment to make parts and equipment for its chip business, per Nikkei Asia. The company will build two factories, one in Chonburi and one in Rayong province, through its subsidiary Unique Integrated Technology.
Foxconn also invested NT$402.3 million to acquire 40.23 million shares of battery developer SolidEdge Solution on Monday. Sources say this investment aims to strengthen the company’s EV battery technology.