The world’s second-largest iPhone manufacturer will pay $300 million to Pegatron to acquire a 62.5% stake in the company's Shanghai facility.

Toyota and Honda will each invest about $1.44 billion in the country, while Isuzu Motors and Mitsubishi will combine to invest the remaining $1.44 billion.

Mass production at the upcoming $17 billion fab would begin in 2025, the newspaper reported, citing a speech by President Choi Siyoung of Samsung’s foundry business.

Construction has already begun at the Fab 38 plant, which is due to open in 2028 and operate through 2035.

The company paid $31.13 million for use rights to a 48.7-acre plot near an existing Tesla plant that currently produces Model 3 and Model Y vehicles.

The company said that it is planning to open additional locations in northern and western Australia in order to provide “blanket coverage” for the entire continent.

The final investment decision on the 2.9-gigawatt project shows that the offshore wind industry is picking back up after a crisis year.

North Carolina-based Qorvo said that it had signed an agreement to sell its circuit assembly operations in Beijing and Dezhou to the iPhone assembler Luxshare Precision Industry.

World Courier said the stations will allow the company to expand its capacity to store, handle and transport pharmaceutical products, including those that require cryogenic storage.

Shanghai Shanshan Lithium Battery Material Technology Co. Ltd has reserved a plot to construct a plant in the GigaVaasa industrial zone on the western coast of Finland.