After acquiring the earlier General Motors assembly plant in Ohio, Foxconn is now planning to invest $820 million in battery manufacturing in southern Taiwan, over next three years.
Foxconn will expand its electric vehicle and traction battery production in southern Taiwan.
Electric buses are already being produced in the city of the same name on behalf of the Kaohsiung authorities, and the production volumes can be increased through investment increase.– Reuters
According to news sources, Foxconn is developing lithium batteries based on iron phosphate (LFP). Some of the Chinese EV battery manufacturers are already working on this battery, which are relatively cheap to manufacture. These battery have the advantage of abundant resource, but are low on energy storage density on the flip side, combined with sensitivity to low temperatures.
Source: Tech News Space
