Jan. 4, 2023 /SemiMedia/ -- According to reports, Foxconn Interconnect Technology Limited, a subsidiary of Foxconn, announced that it has acquired the German automotive wiring harness manufacturer PRETTL SWH Group for 186 million euros (about $198 million).
PRETTL SWH has been in the automotive market for more than ten years. Its business includes the development and manufacture of high-end automotive sensor wiring harnesses and connectors and automotive power solutions. Its customers include traditional car manufacturers and electric car manufacturers, as well as first- and second-tier suppliers of large global vehicles. Applications for PRETTL SWH products include commercial electric vehicles such as trucks, buses, and tractors, as well as vans, pedelecs, electric two-wheelers, and light-duty electric vehicles.
Foxconn Interconnect stated that PRETTL SWH Group's product portfolio focuses on niche markets, which is consistent with Foxconn Interconnect's competitive strategy of focusing on high-margin and high-precision manufacturing in the information and communication market in the past.
The acquisition is expected to be completed in the second quarter of 2023.
