HANOI: Fulian Precision Technology Component Co. Ltd., Foxconn’s wholly owned subsidiary in Vietnam, has entered the electric vehicle (EV) charging station manufacturing business and increased its charter capital by VND402 billion ($16 million) to support its expansion.
According to the company’s latest filings with Vietnam’s National Business Registration Portal, Fulian’s registered charter capital has increased from VND9.46 trillion to VND9.86 trillion (about $398 million). The company remains wholly owned by Taiwan-based Foxconn, Technode Global repored.
As part of the expansion, Fulian registered a new business activity under Vietnam’s business classification code 2710, covering the manufacture of motors, generators, transformers, electrical distribution and control equipment. The newly added segment includes the production of EV charging stations.
Fulian operates a manufacturing facility at Quang Chau Industrial Park in Bac Ninh province. Its existing operations include the production and repair of electronic components, printed circuit board assemblies (PCBAs), computers and accessories, optical products and communications equipment.
The move comes as Vietnam’s EV and charging infrastructure market continues to expand, with companies such as Selex, VinFast and Dat Bike, along with energy firm Petrolimex and automobile manufacturer Honda, investing in charging networks.
Foxconn has invested around $4 billion in Vietnam since entering the country in 2007, primarily in Bac Ninh province, where it employs about 130,000 people. In April, the company inaugurated its Vietnam office in Hanoi to strengthen management and cooperation with Vietnamese authorities.
Foxconn Vietnam Chief Executive Officer Chou I Wen said the company views Vietnam not only as a major manufacturing base but also as a regional innovation hub.
