Now the companies have nothing to do.
According to Reuters, in order to avoid claims from the Taiwanese authorities, Foxconn was forced to sell its assets in the structure of the Chinese technology holding Tsinghua Unigroup for a total of $772 million to the Chinese company Yantai Haixiu. Prior to this, Foxconn tried to gain control of a 48.9% stake in the company, which owned about 20% of the parent structure of Tsinghua Unigroup.
Image Source: Reuters
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This investment initially caused dissatisfaction with the Taiwanese authorities, who feared the leakage of important technologies to China through this structure. In turn, the US authorities have repeatedly suspected Tsinghua Unigroup of collaborating with the Chinese defense complex. Foxconn, on the other hand, tried to obtain assets in the development and production of semiconductor components through such investments. Expansion into the segment of components for electric vehicles requires the Taiwanese contract giant to expand access to the element base.
