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Foxconn Plans $800m Investment in Southern Taiwan

A man walks out from a Foxtron Model T eBus during an organized media visit to Foxconn's headquarters, in New Taipei City, Taiwan December 22, 2022. REUTERS/Annabelle Chih
A man walks out from a Foxtron Model T eBus during an organized media visit to Foxconn's headquarters, in New Taipei City, Taiwan December 22, 2022. REUTERS/Annabelle Chih
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Foxconn Plans $800m Investment in Southern Taiwan

A man walks out from a Foxtron Model T eBus during an organized media visit to Foxconn's headquarters, in New Taipei City, Taiwan December 22, 2022. REUTERS/Annabelle Chih
A man walks out from a Foxtron Model T eBus during an organized media visit to Foxconn's headquarters, in New Taipei City, Taiwan December 22, 2022. REUTERS/Annabelle Chih

Foxconn (2317.TW) is planning to invest T$25 billion ($820 million) in the next three years in new manufacturing facilities in southern Taiwan to support its electric vehicle (EV) ambitions, the company said on Sunday.

The company, formally called Hon Hai Precision Industry Co Ltd, said the investments in Kaohsiung will include plants for making electric buses and batteries for EVs, Reuters reported.

Foxconn, a major Apple Inc (AAPL.O) supplier and iPhone assembler, has big ambitions in the EV market as it seeks to diversify its revenue base.

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Japan’s Antitrust Watchdog to Find Google Violated Law in Search Case, Nikkei Reports

The logo of Google LLC is shown at an entrance to one of their buildings in San Diego, California, US, October 9, 2024. (Reuters)
The logo of Google LLC is shown at an entrance to one of their buildings in San Diego, California, US, October 9, 2024. (Reuters)
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Japan’s Antitrust Watchdog to Find Google Violated Law in Search Case, Nikkei Reports

The logo of Google LLC is shown at an entrance to one of their buildings in San Diego, California, US, October 9, 2024. (Reuters)
The logo of Google LLC is shown at an entrance to one of their buildings in San Diego, California, US, October 9, 2024. (Reuters)

Japan's competition watchdog is expected to find Google guilty of violating the country's antitrust law, Nikkei Asia reported on Sunday, citing sources.

The Japan Fair Trade Commission (JFTC) will soon issue a cease and desist order asking Google to halt its monopolistic practices, the report added.

Google did not immediately respond to a request for comment while the JFTC could not be reached for comment.

The Japanese competition watchdog started investigating Google for a possible breach of antimonopoly laws in web search services last October, following similar steps by authorities in Europe and other major economies.

Chrome is the world's most widely used web browser and is a pillar of Google's business, providing user information that helps the company target ads more effectively and profitably.

Last month, the US Department of Justice argued ahead of a judge that Alphabet owned Google must divest its Chrome browser and should not be allowed to re-enter the browser market for five years in an effort to end Google's search monopoly.