Foxconn to produce EVs in Europe, India and Latin America

In a statement Foxconn’s chairman Liu Young-way said, it is looking to produce electric vehicles (EVs) in India, Europe and Latin America, and “indirectly” cooperate with German automakers.

Foxconn, aims to become a major player in the global EV market, has already clinched deals with Thailand’s energy group PTT PCL and US startup Fisker Inc.

After unveiling three EV prototypes earlier this week, Liu told reportters during a press conference that due to “disclosure restrictions” he couldn’t provide any details of their plans for India, Europe and Latin America.

“Europe will be a bit faster, I agree with that. But as to where, I can’t tell you,” said Liu Young-way.

When asked whether the company would collaborate with German car companies, he said “indirectly”; he also mentioned that in terms of a timeline, Europe would come first, followed by India and Latin America.

Earlier this month, Foxconn purchased a factory from U.S. startup Lordstown Motors Corp to produce electric cars.

In August, Foxconn purchased a chip plant in Taiwan to ensure a steady supply of chips for its smart vehicles.

Foxconn has set a target to provide components or services for 10% of the world’s EVs by either 2025 or 2027.



Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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