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Daily news: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

Let's take stock of what major events happened in the automotive circle on March 15, 2022.

Auto Incident One: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

A few days ago, it was reported that Saudi Arabia is evaluating Foxconn's proposal, which plans to cooperate with Saudi Arabia to build a new factory with an investment of $9 billion, which will be used to produce microprocessors, electric vehicle components and other electronic products.

Daily news: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

Saudi Arabia expects Foxconn's new factory to ensure that at least two-thirds of the output can flow into Foxconn's existing supply chain system, in addition to Saudi Arabia, Foxconn also plans to negotiate with the United Arab Emirates, and does not rule out that the factory will be built in the United Arab Emirates.

Foxconn built a factory that was affected by the epidemic, wanted to expand production capacity, and expected to have more factories so that when an unexpected situation occurred, it would not affect production capacity. At present, Foxconn is ready to expand production capacity in Taiwan, India and the United States.

Automobile incident two: Aodong New Energy and Zhonghe Guochen reached a joint venture cooperation

Daily news: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

Recently, Aodong New Energy Automobile Technology Co., Ltd. (hereinafter referred to as "Aodong New Energy") and Zhonghe Guochen Energy Technology Co., Ltd. (hereinafter referred to as "Zhonghe Guochen"), a subsidiary of Yikun Group, formally signed a strategic cooperation and joint venture agreement, and the two sides reached an agreement on the strategic and business cooperation level of the power exchange business in Hebei, Shandong, Shanxi, Tianjin and other four provinces and cities in North China, and will take the lead in establishing a joint venture company in Tianjin and Jinan in the near future to quickly and large-scale layout of the twin-city power exchange operation service network.

Automobile Incident 3: Youdao Zhitu became a demonstration application project for Shanghai intelligent networked vehicles

Daily news: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

Recently, SAIC's subsidiary Youdao Zhitu entered the list of the 2022 Shanghai Intelligent Connected Vehicle Demonstration application innovation pilot project ("unveiled and linked") announced by the Shanghai Municipal Transportation Commission. With its innovative "Four King Kong" products, Youdao Zhitu has become the leader and cooperation unit of the innovation pilot project, participating in four application scenarios of 5G+L4 intelligent heavy truck, intelligent transfer, intelligent cleaning and intelligent bus.

Auto Event Four: Midea Group: Mass production of automotive chips can be achieved in 2024

Daily news: Foxconn plans to invest $9 billion in Saudi Arabia to build a factory

Midea Group recently said on the interactive platform that it will mainly put into production MCU chips from 2020 to 2021, and will start mass production in 2021, with an annual mass production scale of about 10 million. In 2024, Midea can realize the mass production of automotive chips and first apply them to the control of new energy vehicle pumps.

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