Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Mitsubishi Motors plans to outsource EV production to Foxconn, signaling the most significant commercial validation of Foxconn’s MIH EV platform to date.</li>
<li>While Foxconn’s AI server manufacturing is currently the company’s strongest growth driver, its EV strategy is increasingly gaining credibility as a second long-term pillar.</li>
<li>Foxconn -- Structural Long. We see depressed share price as buying opportunity. Mitsubishi contract win increases the probability for additional major OEM production partnership wins this year for Foxconn.</li>
</ul>


Mitsubishi Motors plans to outsource EV production to Foxconn, signaling the most significant commercial validation of Foxconn’s MIH EV platform to date.
While Foxconn’s AI server manufacturing is currently the company’s strongest growth driver, its EV strategy is increasingly gaining credibility as a second long-term pillar.
Foxconn -- Structural Long. We see depressed share price as buying opportunity. Mitsubishi contract win increases the probability for additional major OEM production partnership wins this year for Foxconn.


Foxconn's Huge EV Bet Pays Off: Key Mitsubishi Win Could Spark Additional Automaker Deals to Come

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

<ul><li>By the 4th quarter of 2024, ByteDance is among the top 3 global memory manufacturers, showing significant growth in their market share.</li><li>ByteDance has open-sourced COMET to enhance LLM training efficiency by 1.7x, which is expected to boost the effectiveness of Machine Learning models.</li><li>Ajai Chowdhry highlights India's potential in chip design, emphasizing it as a key strength that should not be overlooked in the tech industry.</li></ul>

By the 4th quarter of 2024, ByteDance is among the top 3 global memory manufacturers, showing significant growth in their market share.ByteDance has open-sourced COMET to enhance LLM training efficiency by 1.7x, which is expected to boost the effectiveness of Machine Learning models.Ajai Chowdhry highlights India's potential in chip design, emphasizing it as a key strength that should not be overlooked in the tech industry.

Tech Supply Chain Tracker (15-Mar-2025): Top-3 memory maker by 4Q24.

<ul><li>Honda and Nissan cancel US$60 billion merger due to restructuring clashes, impacting future strategic moves by both companies.</li><li>CXMT progresses to 16nm DRAM production and shifts focus to 15nm development for technological advances in the future.</li><li>DeepSeek emerges as a strong AI player in China, intensifying competition for Apple in the technology market, while the US exit from the Paris Agreement raises concerns globally.</li></ul>

Honda and Nissan cancel US$60 billion merger due to restructuring clashes, impacting future strategic moves by both companies.CXMT progresses to 16nm DRAM production and shifts focus to 15nm development for technological advances in the future.DeepSeek emerges as a strong AI player in China, intensifying competition for Apple in the technology market, while the US exit from the Paris Agreement raises concerns globally.

Tech Supply Chain Tracker (14-Feb-2025): Honda, Nissan cancel $60B merger amid clash.

<ul><li>China's wafer foundry industry is set to experience substantial growth by 2025, presenting opportunities for technological advancements and innovation within the sector.</li><li>TSMC's focus on COUPE technology in silicon photonics demonstrates their commitment to driving advancements in the field and maintaining a leading position in the industry.</li><li>The introduction of Samsung's GenAI smartphones 2.0, equipped with AI agents, showcases a new level of integration and innovation in mobile technology, promising an enhanced user experience.</li></ul>

China's wafer foundry industry is set to experience substantial growth by 2025, presenting opportunities for technological advancements and innovation within the sector.TSMC's focus on COUPE technology in silicon photonics demonstrates their commitment to driving advancements in the field and maintaining a leading position in the industry.The introduction of Samsung's GenAI smartphones 2.0, equipped with AI agents, showcases a new level of integration and innovation in mobile technology, promising an enhanced user experience.

Tech Supply Chain Tracker (24-Jan-2025): China wafer industry by 2025.

<ul><li>Broadcom offers hope for Samsung as Nvidia encounters difficulties, potentially shifting the balance in the semiconductor industry.</li><li>Taiwan's aerospace supply chain looks forward to expansion with new opportunities in the US market, driving optimism for future growth.</li><li>China encounters hurdles in competing with Starlink in low Earth orbit satellite technology, as tensions rise over differing approaches to innovation and development.</li></ul>

Broadcom offers hope for Samsung as Nvidia encounters difficulties, potentially shifting the balance in the semiconductor industry.Taiwan's aerospace supply chain looks forward to expansion with new opportunities in the US market, driving optimism for future growth.China encounters hurdles in competing with Starlink in low Earth orbit satellite technology, as tensions rise over differing approaches to innovation and development.

Tech Supply Chain Tracker (21-Jan-2025): Broadcom: Samsung's beacon vs. Nvidia.

Taiwan

Hon Hai Precision Industry Co., Ltd. provides electronic manufacturing services for computers, communications, and consumer electronic products.  The Company's business operations include desktop and notebook PC assembly, connector production, cable assembly, PCB assembly, handset manufacturing, networking equipment, and other consumer electronic devices manufacturing.

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Hon Hai Precision Industry (2317 TT)

Foxconn's Huge EV Bet Pays Off: Key Mitsubishi Win Could Spark Additional Automaker Deals to Come

Mitsubishi Motors to outsource EV production to Foxconn, boosting credibility of Foxconn's EV strategy and potential for more OEM partnerships.

Vincent Fernando, CFA

Tech Supply Chain Tracker (15-Mar-2025): Top-3 memory maker by 4Q24.

Top 3 memory manufacturers, ByteDance's open-source COMET boosts efficiency, Ajai Chowdhry sees India's chip design potential, global server...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (14-Feb-2025): Honda, Nissan cancel $60B merger amid clash.

Honda and Nissan call off US$60 billion merger, CXMT advances in DRAM production, DeepSeek challenges Apple in AI market, US withdraws from Paris...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (24-Jan-2025): China wafer industry by 2025.

China's wafer foundry industry set to grow, TSMC prioritizing COUPE tech for silicon photonics, Samsung's GenAI smartphones 2.0 enhance mobile...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (21-Jan-2025): Broadcom: Samsung's beacon vs. Nvidia.

Broadcom aids Samsung, Taiwan aerospace optimistic, China competes with Starlink, Huang's visit to Taiwan, China criticizes chip restrictions,...

Tech Supply Chain Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Foxconn's Huge EV Bet Pays Off: Key Mitsubishi Win Could Spark Additional Automaker Deals to Come

​Mitsubishi Motors to outsource EV production to Foxconn, boosting credibility of Foxconn's EV strategy and potential for more OEM partnerships.

Vincent Fernando, CFA

Tech Supply Chain Tracker (15-Mar-2025): Top-3 memory maker by 4Q24.

Top 3 memory manufacturers, ByteDance's open-source COMET boosts efficiency, Ajai Chowdhry sees India's chip design potential, global server...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (14-Feb-2025): Honda, Nissan cancel $60B merger amid clash.

Honda and Nissan call off US$60 billion merger, CXMT advances in DRAM production, DeepSeek challenges Apple in AI market, US withdraws from Paris...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (24-Jan-2025): China wafer industry by 2025.

China's wafer foundry industry set to grow, TSMC prioritizing COUPE tech for silicon photonics, Samsung's GenAI smartphones 2.0 enhance mobile...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (21-Jan-2025): Broadcom: Samsung's beacon vs. Nvidia.

Broadcom aids Samsung, Taiwan aerospace optimistic, China competes with Starlink, Huang's visit to Taiwan, China criticizes chip restrictions,...

Tech Supply Chain Tracker

Mitsubishi Motors to outsource EV production to Foxconn, boosting credibility of Foxconn's EV strategy and potential for more OEM partnerships.