TAIPEI (Reuters) – Shares of Taiwan’s Foxconn rose as much as 3.6% on Monday after Vietnam conglomerate Vingroup said its car unit was in early stage talks with Foxconn about working together on developing batteries and electric car parts.
Foxconn has proposed acquiring EV production lines owned by the unit VinFast, Reuters exclusively reported on Friday.
Vingroup later said it had received proposals from Foxconn and the partnership will focus on developing the batteries and electric car parts.
(Reporting By Yimou Lee; Editing by Himani Sarkar)
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