Foxconn Ropes In Nissan And Nidec Veteran As EV Leader - Hon Hai Precision (OTC:HNHPF)

Hon Hai Precision Industry Co Ltd HNHPF, operating as Foxconn Technology Group, named automotive veteran Mr. Jun Seki to be the Group's Chief Strategy Officer for electric vehicles effective from 1 February 2023.
Seki is a seasoned executive with two Japanese icons, Nissan Motor Co, Ltd NSANF NSANY and the largest electric motor maker Nidec Corp NJDCY NNDNF.
Also Read: Taiwanese Foxconn Driven Towards Mexico Due To Demand For EV, Sophisticated Chips And Geopolitical Tensions
Seki will assist the Group in integrating EV resources and development in the Americas, Asia, and the Middle East.
Foxconn bolstered efforts to secure new revenue after grappling with thin margins and unprecedented Covid-induced challenges in China.
Foxconn made aggressive advances in automotive over the past year by acquiring a pickup assembly plant from embattled Lordstown Motors Corp RIDE, Bloomberg reports.
In 2022, NXP Semiconductors NV NXPI collaborated with Foxconn to develop EV platforms.
Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, Chair Liu Young-way has said, vowing to lower manufacturing costs for carmaking with its assembly know-how as the world's largest contract electronics manufacturer.