Friday, January 21, 2022

Foxconn to build factories for EV in the USA and Thailand

Contract manufacturer Foxconn is planning to build factories for electric cars in the USA and Thailand in 2022. Production is scheduled to start in 2023. Plants could also follow in Europe.

The company made the announcement in a conference call for investors. According to Foxconn CEO Liu Young-way, Hon Hai, as the company is actually called, is in talks about possible locations for plants in Europe. However, neither the regions in Europe under discussion nor the locations of the plants in the USA and Thailand were mentioned.

Foxconn wants to build vehicles for Fisker in the US plant – both companies had announced a cooperation on the so-called ‘Project Pear’ in February, in the context of which a “new type of vehicle” is to be created. Production is to start here by the end of 2023. Last year, Foxconn presented its own electric car platform MIH.

While Foxconn did not name any possible locations the Japanese business newspaper Nikkei claims to have learned that the company is in talks with three US states. One potential candidate is Wisconsin. Foxconn already has an electronics factory in Wisconsin

The factory in Thailand is to be built as part of a joint venture with the oil company PTT, according to Foxconn – Foxconn and PTT have already been developing a joint electric car platform since early June. According to CEO Liu, up to 200,000 cars are to be built at the plant. The company did not specify for which customers these vehicles are intended.

They are to be built first for the local market and later for international customers.

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Hardly any further details are known about the European plans. Liu only stated in the conference that the considerations were part of the global electric car strategy. There is already a cooperation with the Stellantis Group, but this involves the development of digital services and infotainment systems – in other words, Foxconn’s know-how in consumer electronics. Vehicle production is not part of this cooperation.

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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