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Foxconn

Hon Hai Technology Group, known internationally as Foxconn, is a Taiwanese multinational electronics contract manufacturer founded in 1974 and headquartered in Tucheng, New Taipei City, Taiwan. In 2021, the company's annual revenue was 5.99 trillion New Taiwan dollars and it was ranked 20th on the 2022 Fortune Global 500. Foxconn is the world's largest technology manufacturer and service provider, the largest private employer in the People's Republic of China, and one of the largest employers worldwide. The company's founder and former chairman is Terry Gou.

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Foxconn Facts

  1. 1.

    History

    Foxconn also announced a merger with the integrated circuit designing firm AchernarTek for an undisclosed amount.

  2. 2.

    International operations

    Foxconn announced on 26 July 2017 that it would build a $10 billion TV manufacturing plant in southeastern Wisconsin and would initially employ 3,000 workers (set to increase to 13,000).

  3. 3.

    International operations

    On June 2, 2022, Foxconn announced that their Mexico-based production plant had been hit by a ransomware attack in late May, disrupting production.

  4. 4.

    International operations

    In September 2022, Foxconn signed a deal for a Chip Making Facility in Gujarat, India with an investment of $21 billion, by Vedanta group.

  5. 5.

    Controversies

    In reaction to a spate of worker suicides in which 14 people died in 2010, Foxconn installed suicide-prevention netting at the base of buildings in some facilities and promised to offer substantially higher wages at its Shenzhen production bases.

  6. 6.

    History

    In February 2022, Foxconn formed a joint venture company with Vedanta Limited, one of India’s leading multinational groups, to manufacture semiconductors in India.

  7. 7.

    History

    In July 2021, Foxconn teamed up with CTBC Financial Holding Co., Ltd to create a new fund targeting EV investments.

  8. 8.

    History

    In May 2022, Foxconn announced the completion of the Lordstown Motors facility purchase and further signed a contract manufacturing agreement and a joint venture agreement with LMC for product development.

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