Hon Hai Precision Industry Co (鴻海精密), which assembles electric vehicles for Fisker Inc and Lordstown Motors Corp, yesterday signed an agreement with Taisic Material Corp (盛新材料) to invest NT$500 million (US$16.79 million) by subscribing to Taisic’s share issue through its investment subsidiary, the latest in a slew of steps made by Hon Hai to build an electric vehicle chip ecosystem.
The deal with Taisic would help Hon Hai gain better access to silicon carbide (SiC) substrates, a key component in building electric vehicles, it said in a statement.
The investment would give Hon Hai a 10 percent stake in Taisic, one