Foxconn Technology Group is heading to inland Chinese cities in search of profit drivers as the Taiwan-based company looks beyond assembling iPhones and iPads for Apple Inc.

As investors discussed the pros and cons of Foxconn's plant proposal in Bengbu, China's Anhui province, a new investment in the eastern province emerged on Monday.

The world's largest electronics contract manufacturer's battery-making arm agreed to pour more than 2 billion yuan ($323 million) into Anqing to produce lithium batteries, a popular power source for electric cars.