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Taiwanese manufacturing giant Foxconn is reportedly engaging in talks to buy a stake in Malaysian technology company Dagang NeXchange Bhd (DNeX), sources told Bloomberg.
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Interestingly enough, the Taiwanese firm lost a bidding war to DNeX a few months ago over the acquisition of chipmaker SilTerra Malaysia Sdn Bhd. According to a Bloomberg source, Foxconn could buy a minority stake in DNeX and help grow SilTerra’s business.
Sources informed the US news outlet that the situation is fluid – the discussions are ongoing and could still possibly lead nowhere. When asked separately by Bloomberg, DNeX said it cannot comment on any specific discussion while Foxconn declined to comment.
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Fiskerâs lofty goals, which have so far led to high evaluations but few cars on the road over the past 14 years, include an electric-powered vehicle with a starting price below $30,000 under the codename âProject PEAR,â which is to be Fiskerâs second production vehicle.
According to announced âFramework Agreements,â Foxconn plans to begin producing vehicles in the U.S. for Fisker beginning the fourth quarter of 2023.
According to a news release: âIn support of the work on Project PEAR, the two companies (Fisker and Foxconn) have established a co-located program management office between the U.S. and Taiwan to coordinate design, engineering, purchasing, and manufacturing operations. Following an extensive review of potential U.S. manufacturing sites, the two companies will expedite a manufacturing plan c
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