Foxconn Technology Group has begun construction of a global headquarters for its New Business Development Group, as the Apple contract manufacturer expands into the production of electric vehicles (EVs), batteries, semiconductors and robots.
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The facility in Zhengzhou, the capital of central Henan province where Foxconn runs the world’s largest iPhone factory, on Thursday hosted a groundbreaking ceremony attended by chairman and CEO Liu Young-way and provincial governor Wang Kai, according to a statement on the government’s website.
“Foxconn will integrate global technology reserves and industry chain resources, with a focus on EVs, energy storage and other emerging industries, injecting new growth power into the development of the regional economy and high-end manufacturing industry chain,” the statement said.
The move marks a major step by Foxconn, also known as Hon Hai Precision Industry, to diversify its business since it announced plans in 2019 to venture into EVs, semiconductors, robotics, artificial intelligence, 5G telecommunications and digital health.
The site of the new headquarters was chosen in 2023 and spans 70,000 square metres (753,000 sq ft). Foxconn has allocated 1 billion yuan (US$137 million) to its development.
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