According to Taiwan media Central News Agency, Foxconn’s Hon Teng Precision Technology (FIT) announced today that it has acquired 100% of the German automotive wiring harness factory PRETTL SWH Group for 186 million euros (about 1.373 billion yuan) to expand its electric vehicles. The strength of key car components is expected to be completed in the second quarter.
Hong Teng said that this acquisition can bring about 350 million euros (about 2.583 billion yuan) to 400 million euros (about 2.952 billion yuan) in annual revenue contribution to Hongteng in the short term, and it is expected to create a better product mix in the future. Improve the overall gross profit margin of Hongteng, and expand Hongteng’s global manufacturing, sales and technical layout of key components of electric vehicles.
According to reports, the three major departments of PRETTL SWH Group, the sensor department, the vehicle power management department, and the connector data transmission system department, respectively correspond to Hongteng’s current electric vehicle strategic development direction “power management, car networking and human-machine interface”. .
PRETTL SWH Group is headquartered in Pfulingen, Germany, and has 18 branches in more than ten countries and regions around the world, with about 8,000 professional employees around the world.
