Foxconn shares jump over 3% on news of EV partnership Vinfast

Foxconn

Shares of Taiwan’s Foxconn have risen as much as 3.6% after Vietnam conglomerate Vingroup revealed its car unit was discussing with Foxconn about working together on developing batteries and electric car parts.

Foxconn has proposed acquiring EV production lines owned by the unit VinFast.

Vingroup later said it had received proposals from Foxconn and the partnership will focus on developing the batteries and electric car parts.

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