Dagang NeXchange Berhad (DNeX) and Big Innovation Holdings (BIH), a wholly-owned subsidiary of Hon Hai Precision Industry (Foxconn), plan to set up a joint venture company to build and operate a new 12-inch wafer fabrication plant in Malaysia.
Vietnam-based electric two-wheeler maker Dat Bike closed its series A round fundraising led by Jungle Ventures, raising a total of US$10 million since the company was established in 2019, according to Tech Crunch.
Toyota Motor Thailand has signed an agreement with Thailand's Excise Department to receive tax incentives and a subsidy for Toyota's battery electric vehicle (BEV) model bZ4X, the Bangkok Post reported on April 29. According to the department, Great Wall Motor Thailand and MG Sales Thailand have also signed such an agreement, which brings BEV taxes down from 8% to 2% until 2026 and provides a subsidy of THB70,000-150,000 to each BEV buyer. Furthermore, import duty on BEV from Japan, South Korea, and Europe will decrease to 20%, 40%, and 40% respectively.
The EV battery world is crying out for a credible plan to address the spike in battery materials prices. Lithium, for example, the price has been growing all through 2021, hitting over US$25,000 per ton by the end of last year, and now jumped to the highest at over US$40,000 per ton this month, according to Forbes.
Primax Electronics has estimated Kunshan's lockdown this month will affect up to 5% of its monthly revenue. Nonetheless, it expects a double-digit growth in the second quarter with new product portfolio, while continuing to expand its production site in Thailand.
Lite-On Technology plans to expand its factory site in Thailand, with additional output for photocouplers set to come online in 2023, according to company president Anson Chiu.
With abundant natural resources and young labor, Indonesia attracts - and needs - more foreign investment. The three largest foreign investors in Indonesia are Singapore, China (including Hong Kong), and Japan.
The Philippines are attracting more foreign investment in telecommunication, shipping, and railways after its parliament reformed the Foreign Investment Act and Public Service Act, which had previously discouraged foreign investors from investing in the country, according to Manila Times. Notably, Starlink will soon start operating in the Philippines.
Hanoi-based carmaker VinFast has revealed a battery subscription policy for its electric SUV series VF 8 and VF 9 to be sold in the US, saying it aims to help customers "transition to electric vehicles easier."
SFA Semicon Philippines, a subsidiary of South Korea-based SFA Semicon, has reported US$12.8 million in after-tax profits for the year of 2021, leaping 133% on year.
UnaBiz, the IoT service provider and Sigfox Operator for Singapore and Taiwan, had won the bid and was appointed as the new owner of Sigfox, a French global network operator founded in 2010 that builds low-power wireless networks to connect objects such as utility meters.
CATL is joining a new investment project of nearly US$6 billion in Indonesia for making electric vehicle (EV) batteries, according to the Chinese company.
Vietnam's National Wage Council said last week that it will increase region-based minimum wages by 6% starting this July, according to Vietnamplus. The wage increase reaches as high as VND260,000 (US$11.3), bringing the minimum monthly wage in Region 1 to VND4.68 million.
Earth Venture Capital, which invests in early-stage climate-tech startups and has just closed its debut fund recently, extended invitations to Taiwanese startups and universities with innovative and scalable digital solutions to help tackle the climate change crisis.
