Vice Premier Cheng Wen-tsan, Kaohsiung Mayor Chen Chi-mai, and Hon Hai Chairman Young Liu were present as the two parties signed a letter of intent, according to a statement from the city.
Based on a statement, Hon Hai, the largest contract electronics manufacturer in the world and Apple Inc.'s primary iPhone assembler, intends to open the company's Southern Taiwan service centre as well as an international research and training facility in the city's Asia New Bay Area.
The business will also collaborate with Kaohsiung to create a complete smart city plan that will be based on CityGPT, the company's smart city platform.
“Kaohsiung has a port, an airport and vast outlying terrain. The planned infrastructure will make the smart city initiative complete,” Liu added.
As per the corporation, the three-year, NT$25 billion investment is anticipated to generate 2,000 jobs.
Electric buses and batteries for electric vehicles are produced by Hon Hai at its factories in the city's Ciaotou Science and Technology Park and Ho Fa Industrial Park (EVs).
Hon Hai added, a factory at Ciaotou Park would start mass producing electric buses in 2025, starting with 500 units annually.
The corporation stated that it intended to increase the number to 1,000 by 2028, mostly for the domestic market.
In the third quarter of 2019, 1.2 gigawatt-hours of energy are anticipated to be mass produced at Hon Hai's lithium iron phosphate EV battery factory at Ho Fa Industrial Park.
In an effort to diversify its revenue stream and rely less on consumer electronics, which have pushed down gross margin, the corporation is growing its EV business.
For more than a year, Hon Hai and Kaohsiung, the first city to adopt Hon Hai's Model T electric buses, have been talking about smart city initiatives.
Hon Hai's plan to invest in the Asia New Bay Area follows those of a number of other companies, including Cathay Financial Holding Co., IBM Corp., Compal Electronics Inc., and AUO Corp., in an effort to increase investment in Kaohsiung. This is because the government wants to hasten the development of the city's digital, information technology, and 5G industries.
The Kaohsiung government said that at the conclusion of the previous year, investments in the Asia New Bay Area totaled roughly NT$15.4 billion and produced an output worth NT$32.7 billion.
Terry Gou, the founder of Hon Hai, declared this week that he is running for president of the Chinese Nationalist Party (KMT) in the upcoming general election. This announcement prompted Hon Hai to announce further investment commitments.
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