Yageo's Capacitor Maker Jamicon to Benefit from Foxconn EV Initiative

Media reports Jamicon benefiting the greatest in the Yageo Corporation and Foxconn beginning a strategic collaboration, as the capacitor-maker under Yageo could enjoy a strong growth due to electric vehicle demand.

Industry watchers pointed out that while the two firms had no existing partnerships in the past, Foxconn's proactive initiative with Yageo has put the two firms into each others' path. Jamicon became a top supplier for Foxconn and would benefit from tapping into the megacorporation's subsidiary production chains.

With Foxconn ramping up its EV operations, Jamicon's aluminum capacitors will become a critical component for the megacorporation's development in the emerging industry.

Jamicon reportedly benefited from the boom brought on by increasing PC and laptop demand this year due to the pandemic. The firm earned NTD$152 million in Q3, marking a record single-quarter high for the firm; it earned NTD$4.17 million in the first three-quarters after-tax, marking a YoY 108% growth and surpassing last year's revenue.

Foxconn's recent acceleration of injecting investments into EV-related operations is a clear signal of the corporation's priorities. At a seminar hosted over the weekend, Chairman Young Liu suggested Taiwan's "next technological powerhouse" would come from EV, drawing parallels to the flourishing semiconductor industry.

The megacorporation now supplies designs and orders of automotive electronic parts for several global auto brands, including Geely, Ford in Changan, Fiat, and Chrysler.