Taiwan's Foxconn, TECO Electric to form strategic partnership
The press conference comes after the Apple and Nvidia supplier halted trading in its shares late on Tuesday, citing a plan to release material information. TECO also halted trading in its shares.
Taiwan's TECO Electric & Machinery Co is Taiwan's top industrial motor maker and ranks among the world's top five suppliers of small low-voltage and medium- to high-voltage motors. The company also produces motors for electric vehicles.
TECO entered the data center infrastructure market earlier this year with the acquisition of an 80 per cent stake in Malaysia's NCL Energy. In July, the company said it had secured major data center projects in the Malaysian states of Selangor and Johor Bahru.
Foxconn has a big artificial intelligence server business and is actively expanding its electric vehicle business. It has also been seeking partnerships with automakers and the supply chain.
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