Foxconn subsidiary acquires machinery worth $121.3 million

Published 17/06/2025, 09:44
Foxconn subsidiary acquires machinery worth $121.3 million

TAIPEI - Foxconn (SS:601138) EV Asset Management LLC, a subsidiary of Hon Hai (TW:2317) Precision Industry Co Ltd (TPE:2317), has acquired machinery and equipment valued at $121.3 million from Banc of America Leasing & Capital, LLC, according to a press release statement issued Tuesday.

The transaction was approved by Foxconn EV Asset Management’s board of directors on June 17, 2025. The company stated the equipment will be used as "business assets," though specific details about the machinery were not disclosed.

The acquisition was completed through direct negotiation between the parties, with pricing based on market conditions. The company confirmed there were no restrictive covenants in the contract or special terms of delivery or payment.

Hon Hai Precision Industry, better known globally as Foxconn, noted that the transaction did not involve any related parties, and all directors approved the purchase without dissenting opinions.

Foxconn EV Asset Management is part of Foxconn’s expansion into the electric vehicle sector, though the press release did not specify how the newly acquired equipment would be utilized within its EV operations.

The transaction represents a significant capital investment as the company continues to develop its presence in the electric vehicle manufacturing space.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.