Hon Hai announces plan to build solar battery manufacturing plant in China


CNA

TAIPEI — Hon Hai Precision Industry Co. Ltd., the world’s largest contract electronics maker, will invest US$30 million to set up a solar battery manufacturing plant in China. In an announcement filed to the Taiwan Stock Exchange, Hon Hai said Tuesday the solar battery firm will be located in Funing of Jiangsu Province, but the company did not disclose further details about the new investment.

Market analysts said it is the first time for Hon Hai to make inroads into the solar energy business, in line with many of its local counterparts, and the move is seen as a bid to boost its bottom line which has been squeezed by fiercer than ever competition in contract manufacturing services.

Hon Hai Chairman Terry Gou said in an annual general meeting held in June that his company was determined to take a share in the global solar energy market after two years of careful assessments.