Last checked at 10 Jul 2023 15:34
Subject: Explain media reporting
Date of events:2023/07/10
Contents:
1.Date of occurrence of the event:2023/07/10
2.Company name: Hon Hai Precision Industry Co., Ltd.
3.Relationship with the Company (please enter "the company itself" or "subsidiaries"):the company itself
4.Reciprocal shareholding percentage: NA
5.Name of the reporting media: Economic Daily
6.Content of the report: Foxconn Pulls out of Vedanta India
7.Cause of occurrence: Na
8.Countermeasures:
Hon Hai Technology Group (Foxconn) statement on JV with Vedanta:
For over a year Hon Hai Technology Group (Foxconn) and Vedanta have worked hard to bring a great semiconductor idea to reality. It has been a fruitful experience that can position both companies strongly going forward. In order to explore more diverse development opportunities, according to mutual agreement, Foxconn has determined it will not move forward on the joint venture with Vedanta.
Foxconn is confident about the direction of India's semiconductor development. We will continue to strongly support the government's "Make In India" ambitions and establish a diversity of local partnerships that meet the needs of stakeholders.
Foxconn is working to remove the Foxconn name from what now is a fully-owned entity of Vedanta. Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders.
9.Any other matters that need to be specified: None