Foxconn, a Taiwanese electronics industry company, has intentions to invest 25 billion new Taiwan dollars ($0.8 billion) in the next three years.
The company will inject the capital into new manufacturing facilities in southern Taiwan.
With the proposed investment, Foxconn aims to back its electric vehicle (EV) ambitions, as it seeks to diversify its revenue base.
The company said that the investments in Kaohsiung will include plants for making electric buses and batteries for EVs.