Foxconn announced a partnership with TECO Electric & Machinery, a maker of electric motors, after suspending trading of its stock on Tuesday.

Taiwan's Foxconn said it will hold a press conference with Taiwanese industry motor maker TECO Electric & Machinery at 3:30 p.m. (0730 GMT) on Wednesday. The press conference comes after the Apple and Nvidia supplier halted trading in its shares late on Tuesday,

Hon Hai Precision Industry Co. formed a strategic alliance with Teco Electric & Machinery Co., a pact that should help the iPhone-assembler advance its push into artificial intelligence hardware.