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
TT

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.



Albania Bans TikTok for a Year after Killing of Teenager

A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
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Albania Bans TikTok for a Year after Killing of Teenager

A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)
A view of the TikTok app logo, in Tokyo, Japan, Sept. 28, 2020. (AP)

Albania on Saturday announced a one-year ban on TikTok, the popular short video app, following the killing of a teenager last month that raised fears over the influence of social media on children.

The ban, part of a broader plan to make schools safer, will come into effect early next year, Prime Minister Edi Rama said after meeting with parents' groups and teachers from across the country.

"For one year, we'll be completely shutting it down for everyone. There will be no TikTok in Albania," Rama said.

TikTok did not immediately respond to a request for comment outside normal business hours.

Several European countries including France, Germany and Belgium have enforced restrictions on social media use for children. In one of the world's toughest regulations targeting Big Tech, Australia approved in November a complete social media ban for children under 16.

Rama has blamed social media, and TikTok in particular, for fueling violence among youth in and outside school.

His government's decision comes after a 14-year-old schoolboy was stabbed to death in November by a fellow pupil. Local media had reported that the incident followed arguments between the two boys on social media. Videos had also emerged on TikTok of minors supporting the killing.

"The problem today is not our children, the problem today is us, the problem today is our society, the problem today is TikTok and all the others that are taking our children hostage," Rama said.