Foxconn considers Wisconsin, Mexico for electric vehicle plant | Automotive Industry News
The president of the Taiwanese company said Foxconn would make the decision between Wisconsin and Mexico later this year.
Apple Inc’s main supplier Foxconn could make electric vehicles at its high-profile but struggling factory in the U.S. state of Wisconsin, but could decide Mexico, the Taiwanese company’s president said on Tuesday.
Foxconn announced a $ 10 billion investment in Wisconsin at a White House ceremony in 2017, presented by then-President Donald Trump as proof of its ability to revive American manufacturing, but its future is uncertain.
Foxconn first sought to create advanced widescreen displays for televisions there. He later said he would build smaller LCD screens instead, then said he would likely build servers.
Speaking in Taipei, Foxconn chairman Liu Young-way said the infrastructure was there in Wisconsin to make electric vehicles (EVs) because of its proximity to the traditional core of American auto manufacturing.
“Much of the work depends on electronics and software for electric vehicles. We thought maybe this was a good place to make electric vehicles, ”Liu said.
“We are also thinking of Mexico. We are still deciding.
Liu said the company will choose between Wisconsin and Mexico this year.
Production of EVs in Wisconsin would be a boon to the U.S. government, though Liu avoided questions about politics, saying any EV project in the state must make commercial sense.
As a major supplier to Apple, speculation has centered on whether Foxconn, officially named Hon Hai Precision Industry Co Ltd and the world’s largest contract electronics maker, would team up with Apple to manufacture a car.
Liu dismissed this, saying it was “just a rumor.”
Over the past year, it has announced several agreements on the production of electric vehicles with automakers, including the American electric car maker Fisker Inc, the Chinese group Byton and Zhejiang Geely Holding and the Fiat Chrysler unit of the multinational Stellantis NV.
Liu said Foxconn will invest around 10 billion Taiwan dollars ($ 354 million) per year over the next three years in new businesses, including electric vehicles.
China, Europe and the United States are all important markets for Foxconn’s foray into electric vehicles, and the company hopes to reduce development time and costs for automakers with its expertise in the field. supply chain integration, he added.
Liu described Foxconn as the “new kid in town” in car manufacturing and said he needed to build up his capacity as soon as possible to gain the trust of customers.
“This is just the start of this era of electric vehicles,” he said. “I will say that in three or four years you will see significant growth. We have to be ready for it.