The long-standing uncertainty over Luxgen's future has been resolved, as Hon Hua Advanced confirmed its acquisition plans for the Taiwanese automaker.

The company held a press conference this evening and issued an official statement announcing that it has reached an agreement to acquire 100% of Luxgen's equity from Yulon Motor for NTD 787.6 million (US$ 25 million). The transaction is currently subject to approval by the Fair Trade Commission and if approved as anticipated, is scheduled for completion in the first quarter of 2026.

In its statement, Hon Hua Advanced Technology noted that the acquisition aligns with its long-term business strategy in Taiwan's automotive industry, including industrial upgrading and the local supply chain.

Upon completion, Hon Hua Advanced will assume control of Luxgen Motor's existing operational capabilities.

Pending approval from the boards of both companies, the acquisition will include Luxgen's parent-company assets, its five sales subsidiaries, nationwide dealership network, and associated personnel.

Hon Hua Advanced will assume full operational responsibility and intends to establish an electric vehicle value chain in Taiwan, integrating product development, sales, and after-sales services.

Originally positioned as an open-platform and technology-integration company, Hon Hua Advanced is part of Hon Hai Technology Group's CDMS (Contract Design and Manufacturing Service) business model.

As the group continues its involvement in smart electric vehicle platforms, vehicle research and development, and system integration, Hon Hua Advanced plans to leverage Taiwan's capabilities in ICT and AI to support the industry's transition towards electrification, intelligent mobility, and software-defined vehicles, reflecting Taiwan's role in the global next-generation automotive sector.

The acquisition of Luxgen also represents an expansion of Hon Hua Advanced's vertical integration, extending into branding and retail operations.

By combining its technological capabilities with Luxgen's distribution channels and service infrastructure, the company intends to manage the customer experience from vehicle launch through long-term ownership.

Hon Hua Advanced confirmed that Bria will be the first model introduced under the Foxtron brand, which will continue to be used for future vehicle launches.

Regarding the Luxgen brand, its future direction will be announced separately by Yulon Motor.

The companies stated that the rights and interests of existing Luxgen customers will remain fully protected.