ZHENGZHOU, CHINA – Foxconn has broken ground on a new headquarters building here in China's Henan province.

The new headquarters will span over 2.67 hectares, with the first phase expected to involve an investment of approximately 1 billion yuan ($139.39 million U.S. dollars), Xinhua reported.

Cui Zhicheng, chairman of Foxconn Innovation Industry Development Group, said that the new headquarters is expected to be the core base for the company's development in the electric vehicle, new energy and energy storage industries on the Chinese mainland.

"Foxconn's determination and confidence in investing in the Chinese mainland and Henan Province remains steadfast," Cui said.

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