Hon Hai Group increases investment in Foxconn New Energy Battery (Zhengzhou) Co., Ltd.

Hon Hai Group recently announced that it will increase investment of RMB 600 million in its subsidiary Foxconn New Energy Battery (Zhengzhou) Co., Ltd. This investment will be carried out in two phases, with an estimated injection of RMB 350 million in the first phase. Since its establishment on October 24, the company has been wholly owned by Foxconn New Business Development Group Co., Ltd., with Cui Zhicheng as the legal representative. The company's main businesses include battery manufacturing and sales, research and development and manufacturing of auto parts, sales of new energy vehicle electrical accessories, manufacturing of new energy prime mover equipment, and sales of new energy vehicle battery replacement facilities.