Energy & Technology

Samsung Electronics Co. has announced its acquisition of FlaktGroup Holding GmbH, a German ventilation company, for 1.5 billion euros (approximately US$1.68 billion). This marks Samsung’s most significant takeover in nearly eight years, following its $8 billion acquisition of Harman International in 2017. The South Korean tech giant confirmed the deal with Triton, a European investment firm, to purchase a 100% stake in FlaktGroup. Headquartered in Herne, western Germany, FlaktGroup specialises in energy-efficient heating, ventilation, and air-conditioning (HVAC) solutions for diverse applications, including data centres, airports, museums, and commercial buildings. Roh Tae-moon, acting head of the device division at Samsung Electronics, expressed confidence in the strategic move. “Through the acquisition of FlaktGroup, an applied HVAC specialist, Samsung Electronics has laid the foundation to become a leader in the global HVAC business, offering a full range of solutions to our customers,” he said. “Our commitment is to continue investing in and developing the high-growth HVAC business as a key future growth engine.” The acquisition aligns with Samsung Electronics’ broader strategy to secure growth in emerging sectors, including HVAC, robotics, medical technology, and consumer audio. The global HVAC market is expected to expand significantly from $61 billion in 2024 to $99 billion by 2030, at an annual growth rate of 8%. This surge is driven by increased demand for energy-efficient systems and data centre solutions, propelled by the rise of generative AI, robotics, and autonomous technologies. Samsung aims to strengthen its service and maintenance offerings by integrating its building management systems with FlaktGroup’s HVAC control technologies. This combination is expected to deliver a comprehensive suite of energy management tools, enhancing Samsung’s capacity to serve a broader customer base. The acquisition builds on Samsung’s recent initiatives to expand its HVAC business, particularly in ductless systems for residential and commercial applications. In May 2024, Samsung Electronics formed a joint venture with Lennox International Inc. to strengthen its HVAC presence in North America. By acquiring FlaktGroup, Samsung Electronics takes a decisive step towards establishing itself as a global leader in HVAC solutions, positioning the company to capitalise on the sector’s robust growth and evolving technological landscape. -Yonhap

Foxtron, an automaker partially owned by Taiwan’s Hon Hai Technology Group (Foxconn), has announced a strategic collaboration with Mitsubishi Motors to develop an electric vehicle (EV) for the Australian and New Zealand markets. The partnership was confirmed on Wednesday, marking a significant step in Foxconn’s ambitions to enter the EV sector. Hon Hai, best known as the manufacturer of Apple’s iPhone, is among several technology firms diversifying into the electric vehicle industry by leveraging their expertise in electronics and automotive supply chains. Foxtron, a joint venture between Hon Hai and Taiwan’s Yulon Motor Co., aims to produce the new EV at Yulon’s facilities. The vehicle is expected to debut in Oceania in the second half of 2026. The companies did not disclose financial details, noting that the memorandum of understanding will be followed by further discussions. Foxtron’s involvement in EV production aligns with Mitsubishi’s strategic goal to transition its entire lineup to EVs or hybrids by 2035, as Japanese automakers respond to competition from Chinese rivals. Earlier speculation suggested that Hon Hai might pursue a partnership with Nissan following unsuccessful merger talks between Nissan and Honda. However, the latest agreement focuses on the collaboration with Mitsubishi, reinforcing both companies’ commitment to expanding their EV portfolios. At the Consumer Electronics Show in Las Vegas earlier this year, Foxtron showcased its Model B EV hatchback, alongside its range of automotive electronics. The company’s current lineup features 11 vehicle models, including the Model T bus, Model V pickup truck, Model N van, and the Model E luxury sedan. As Foxtron and Mitsubishi continue to develop their partnership, the planned EV for Oceania reflects both firms’ ambitions to capitalise on the growing demand for sustainable transport solutions. –Japan Today

HONG KONG : Hyundai Motor Group (the Group) is deploying its dedicated private cloud platform, HCloud, within Equinix data centers globally to enhance customer experience and improve service quality for its more than 10 million connected car service subscribers. HCloud is the Group’s proprietary cloud platform that was developed in response to the growing demand for real-time data processing, seamless connectivity and scalable infrastructure, driven by rapid advancements in connected and autonomous vehicles. The Group is leveraging Equinix International Business Exchange™ (IBX®) data centers across Asia, the United States and Europe, as well as Equinix Fabric®, to interconnect HCloud to multiple public cloud providers, including Amazon Web Services (AWS). This hybrid multicloud architecture accelerates the global rollout of connected car services while ensuring reliable connectivity, consistent service coverage and reduced latency. Hyundai Motor Group is a global enterprise that comprises the mobility brands—Hyundai Motor, Kia and Genesis. The Group’s CCS provides in-car infotainment and mobile applications via wireless networks. Since its launch in 2003, the Group has acquired over 10 million global CCS subscribers as of 2023 and is aiming to reach 20 million by 2026. To continue the growth, it is making significant investments in the development and expansion of HCloud to deliver enhanced in-car services, including a personalized driving experience. As 95% of new vehicles are expected to be connected by 2030, 1 the Group recognized the need for distributed data processing and proximity to cloud and network ecosystems to ensure an excellent user experience. This led to the deployment of the HCloud in Equinix IBX data centers in Seoul, Los Angeles and Frankfurt, strategically selected for their global reach, carrier density and high operational standards backed by service-level agreements (SLAs). Equinix’s proximity to major cloud and network providers will enable the Group to connect with key partners, while supporting robust performance and scalability. Through its deployment at Equinix, the Group has enhanced app responsiveness and improved the quality of its remote services. The collaboration supports the company’s transition to software-defined vehicles (SDVs) and lays the foundation for smarter, safer and more connected mobility solutions. “By leveraging Equinix’s global data centers, we are providing high-quality connected car service and improving user experience through reduced latency, stable global connectivity and enhanced scalability of our HCloud platform. The partnership with Equinix is taking us a step closer to becoming the global leader in connected car services. We look forward to continuing this journey with Equinix to sustain the momentum of our growing connected car ecosystem worldwide.” – Youngjoo Han, Vice President and Head of IT Infra Center, Hyundai Motor Group “The future of the automotive industry lies in connected cars. Through a hybrid multicloud infrastructure, auto manufacturers can take advantage of cloud services while maintaining the flexibility to choose between secure, dedicated colocation infrastructure and highly scalable cloud services for each workload they support. Equinix with its global footprint, offers not only the necessary infrastructure but also an interconnected digital ecosystem and network-dense infrastructure. This can enable Korean companies, including Hyundai Motor, to accelerate their digital transformation and optimize the customer experience.” – Chris Jang, Managing Director, Equinix Korea

JAKARTA: Indonesia is set to become a hub for electric vehicle (EV) manufacturing as seven global automakers have expressed plans to establish production facilities in the country, according to Investment Minister Rosan Roeslani. Speaking to reporters in Jakarta on Tuesday, Rosan said several companies had already formalised their investment commitments and commenced factory construction. The list includes prominent automakers such as China’s BYD, France’s Citroën, Chinese brands Aion and Gili, Maxus, Germany’s Volkswagen, and Vietnam’s VinFast. The cumulative investment value of these projects is estimated to reach Rp 15.4 trillion (approximately $911 million), with a combined production capacity of up to 281,000 vehicles annually. “These seven EV producers have confirmed their plans to relocate investment and have already started construction, totalling Rp 15.4 trillion,” Rosan stated. The minister highlighted Indonesia’s rapid growth in EV sales, noting that sales in 2024 more than doubled compared to the previous year. With this momentum, he stressed the importance of building a robust domestic EV manufacturing base to avoid relying solely on imports. “The growth is highly significant. We must strengthen the ecosystem so Indonesia doesn’t end up merely being a consumer market,” Rosan said. Indonesia’s EV sector is experiencing an upward investment trend, driven by the country’s commitment to achieving net-zero emissions by 2060 or sooner. This ambitious goal has spurred the acceleration of EV adoption, making Indonesia increasingly attractive to global investors. Additionally, the country’s abundant natural resources, including nickel and bauxite used in EV battery production, are seen as a competitive advantage that bolsters investor confidence. Rosan pointed out that EV sales in Indonesia grew by 153% year-on-year in 2024, with the market share of electric cars rising from 1.7% in 2023 to 5% of total vehicle sales. This significant increase underscores the potential for further growth as the country moves towards greater EV adoption and local production. –Jakarta Globe