Yulon to transfer Luxgen to Foxtron in EV deal
Photo: Digitimes Asia
Taiwan’s Yulon Motor will transfer carmaker Luxgen to Foxtron Vehicle Technologies, its electric vehicle joint venture with Foxconn, in a strategic transaction valued at T$787.6 million ($25 million).
Foxtron is jointly owned by Yulon Motor and Foxconn, underscoring a deeper push into electric vehicle development as Taiwan’s auto industry restructures around EVs, News.Az reports, citing Reuters.
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