Foxconn says it plans to invest TWD6bn (USD200m) in a new electric vehicle (EV) battery development and production centre in the island’s southern port city of Kaohsiung to underpin its expansion into the local automotive industry.

Hon Hai has entered into a definitive Asset Purchase Agreement for the Lordstown, Ohio facility (excluding certain assets such as the hub motor assembly line and battery pack and module lines) for USD230m.