electrical components

Volkswagen has agreed to sell a minority stake in its U.S. electric-vehicle charging business to Siemensin a transaction that provides $450 million in new money and values the charging network at $2.45 billion, the companies said Tuesday.Bringing Siemens into Volkswagen’s Electrify America LLC generates additional funding to drive an expansion of EV charging that aims to more than double the number of charging stations that Electrify America operates across the U.S. and parts of Canada to 1,800 by 2026. Reston, Va.-based…

Ferrari plans to keep making cars that stand out as the industry embraces electrification. Photo: andy rain/Shutterstock…

Taiwan’s Foxconn 2317 0.45% Technology Group started building its first plant to produce electric-car batteries Wednesday, the contract electronics manufacturer’s latest step into the booming electric-vehicle industry. Foxconn said it plans to invest about 6 billion New Taiwan dollars, equivalent to about $200 million, on battery production lines and a research-and-development center in south Taiwan’s Kaohsiung. There,…

MOUNT PLEASANT, Wis.—Nearly five years after iPhone assembler Foxconn Technology Group unveiled plans for a factory that would transform this corner of southeastern Wisconsin into a high-tech manufacturing hub, only a few buildings occupy the 3,000-acre site, a huge power substation stands largely untapped and new roads are sparsely traveled. But Taiwan-based Foxconn remains on the hook to pay for the infrastructure improvements and land acquisition for its now-abandoned grand plans. Starting next tax year, Foxconn’s…

Most of Foxconn’s factories in China have been running under a bubble-like system, said Chairman Young Liu on Thursday. The Taiwan-based contract manufacturer has relied on its supply-chain management expertise to keep production going even during Covid outbreaks, he said. “Our team has put a lot of effort into arranging accommodation for employees and communicating with the local government,” Mr. Liu said on an earnings call. Apple Inc., Foxconn’s biggest customer, said last…