Taiwan’s Foxconn buys $90.8 mln wafer plant from Macronix, eyeing EV chips

TAIPEI: Foxconn said on Thursday it has bought a chip plant from Taiwan chipmaker Macronix International for T$2.52 billion ($90.8 million), as the electronics giant looks to make auto chips amid its foray into the electric vehicle (EV) market.

Electronics manufacturing conglomerate Foxconn, which counts giants such as Apple among its top clients, has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics.

The supply bottleneck has led to production cuts and warnings of supply chain disruptions from manufacturers across the world this year.