Belgium’s Magnax secures €35.5 million with Foxconn backing to industrialise axial flux motor technology

Magnax, a Kortrijk-based DeepTech company specialising in yokeless axial flux electric motor technology, has secured €35.5 million from Pan-International Industrial Corp., together with Foxconn Group and incoming management members, through a two-stage capital increase. The transaction has received foreign direct investment (FDI) approval. Upon completion, Pan-International will become Magnax’s largest shareholder. Pan-International Industrial Corp., a […]