# Yulon and Foxconn to form EV drive systems joint venture

Yulon Group and Hon Hai Precision Industry (Foxconn) announced a preliminary agreement to form a joint venture for developing and producing EV drive systems and electronic/chassis products. HAITEC will take a 49% stake and contribute NT$7.6bn in assets and technology, while Hon Hai will take 51% and invest NT$7.9bn in cash.

- Type: Partnership
- Announced: 2020-02-11
- Where: TWN
- Value: $15.5M
- Status: announced
- Products: EV drive systems, electronic/chassis products
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Hon Hai Precision Industry Co., Ltd.](https://endata.com/companies/17449.md) (partner)
- [Yulon Group](https://endata.com/companies/45178.md) (partner)
- [Hua-Chuang Automobile Information Technical Center Company](https://endata.com/companies/45179.md) (partner)

## Sources

- [just-auto.com](https://www.just-auto.com/news/yulon-foxconn-to-set-up-ev-drive-systems-joint-venture/), 2020-02-11: "Yulon Group and fellow Taiwan electronics manufacturer Hon Hai Precision Industry, better known as Foxconn, announced a preliminary agreement to set up a manufacturing partnership to develop automotive related products."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.