Timeline: Foxconn's push to break into semiconductor sector

Macronix International

11/07/2023 06:43

July 11 (Reuters) - Taiwan's Foxconn  2317.TW  said on
Monday it had withdrawn from a $19.5 billion semiconductor joint
venture with Indian metals-to-oil conglomerate Vedanta
 VDAN.NS , in a setback to Prime Minister Narendra Modi's
chipmaking plans for India.
    Foxconn, a major Apple  AAPL.O  supplier and the world's
largest contract electronics maker, has been attempting to break
into making chips as it seeks to diversify and expand into the
electric vehicle market.
    Here is a timeline with key moves in Foxconn's efforts to
get into chip making:
    
    MAY 2021
    Foxconn forms a joint venture with Yageo Corp  2327.TW  to
expand its presence in the semiconductor industry.
    
    AUGUST 2021
    Foxconn buys a chip plant from Taiwan chipmaker Macronix
International  2337.TW  for T$2.52 billion ($80.48 million).
    
    JULY 2022
    Foxconn discloses it is a shareholder in embattled Chinese
chip conglomerate Tsinghua Unigroup via a 5.38 billion yuan
($747.25 million) investment by a subsidiary, but fails to seek
prior approval from Taiwan's government for the scheme.
    
    SEPTEMBER 2023
    Vedanta and Foxconn agree to set up semiconductor and
display production plants in the Indian state of Gujarat. 
    
    NOVEMBER 2022
    Foxconn hires Chiang Shang-yi, a former top executive at
Taiwan's TSMC  2330.TW , the world's largest contract chipmaker,
and Chinese chipmaker SMIC, to lead its growing push in the chip
business.
    
    DECEMBER 2022
    Foxconn says it agrees to sell its entire stake in Tsinghua
Unigroup.
    
    JANUARY 2023
    Taiwan's government fines Foxconn T$10 million for its
unauthorised investment in Tsinghua Unigroup.
        
    JUNE 2023
    Carmaker Stellantis  STLAM.MI  and Foxconn create a 50-50
joint venture to design and sell semiconductors for the
automotive industry from 2026. The joint venture, called
SiliconAuto, will supply Stellantis, including its new 'STLA
Brain' electronic and software architecture, Foxconn and other
customers.
    
    JULY 2023
    Foxconn withdraws from semiconductor joint venture with
Vedanta.
    
($1 = 7.1997 Chinese yuan renminbi, 31.3130 Taiwan dollars)

 (Reporting by Ben Blanchard; Editing by Sonai Paul)
 ((ben.blanchard@thomsonreuters.com))