Taiwan's Foxconn buys $90.8 million wafer plant from Macronix, eyeing EV chips

A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan November 12, 2020. REUTERS/Ann Wang

TAIPEI (Reuters) -Foxconn said on Thursday it has bought a chip plant from Taiwan chipmaker Macronix International for T$2.52 billion ($90.8 million), as the electronics giant looks to make auto chips amid its foray into the electric vehicle (EV) market.

Electronics manufacturing conglomerate Foxconn, which counts giants such as Apple among its top clients, has been seeking to acquire chip plants globally as a worldwide chip shortage rattles producers of goods from cars to electronics.