Foxconn's Hon Hai to Build Middle East EV Charging Hub in Saudi Arabia

Foxconn's subsidiary, Hon Hai Precision Industry Co., Ltd., has announced plans to establish its first manufacturing base in the Middle East through a joint venture with Saudi Arabia. The facility, which will primarily produce electric vehicle charging stations, is scheduled to commence construction in December of this year and is expected to begin operations by 2026.

The joint venture, named Smart Mobility, is a collaboration between Hon Hai Precision Industry and the Saudi family-owned enterprise Saleh Suleiman Alrajhi & Sons Co. Hon Hai Precision Industry holds a 50% stake in the venture. The primary goal of this initiative is to support Saudi Arabia's ambition to achieve a 30% electric vehicle penetration rate by 2030.

This strategic move is part of Hon Hai Precision Industry's broader expansion into the automotive sector. The company has been actively investing in the electric vehicle connectivity and charging domains. In 2023, Hon Hai Precision Industry acquired the German company Prettl SWH Group and rebranded it as FIT Voltaira. Additionally, in 2024, the company completed the acquisition of Auto-Kabel Group, further enhancing its capabilities in automotive wiring harnesses and charging solutions.

This new manufacturing base in Saudi Arabia is a significant step for Hon Hai Precision Industry as it continues to diversify its product offerings and expand its global footprint. The company anticipates that its revenue from the automotive sector will reach 700 million dollars this year, underscoring the growing importance of this market segment to its overall business strategy.