New Taipei City, Taiwan
Foxconn
announced that it plans to build electric vehicle (EV) factories in the US and
Thailand in 2022 and start mass producing vehicles in 2023. Liu Young-way,
Chairman, Foxconn, informed its investors in an earnings call that the company
was also on the lookout for possible plant locations in Europe.
Foxconn plans to
utilise its US facility to build vehicles for EV clients like Fisker. Foxconn
will further start manufacturing EVs for Fisker by the end of 2023. Both the
companies signed a deal in May and are jointly investing in the Project Pear
vehicle. They will share the revenue derived from it.
In the US,
Foxconn is in discussion with three states, including Wisconsin, for an EV
plant. The company had earlier scaled back the plans it had for its existing facility in Wisconsin. Now, Liu
Young-way mentioned that the company might use the controversial plant to build
its EVs.
For the Thai
factory, Foxconn will form a joint venture with oil and gas conglomerate PTT.
The two companies are working on a platform for EV and component production.
Liu Young-way further added that the company plans to build around 200,000 EVs
at the Thai plant every year.
Source – Yahoo Finance
Image Source: Foxconn Website
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