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The logo of Foxconn, or Hon Hai Group, which is Taiwans technology giant and the worlds leading producer of semiconductors or chips particularly for Apples devices, is seen on top of the companys headquarters, amid COVID-19 outbreak, in Taipei, Taiwan, 15 July 2021. Foxconn has together with TSMC helped Taiwan to buy BioNTech vaccines. (Photo by Ceng Shou Yi/NurPhoto via Getty Images)
Foxconn’s move into the production of electric vehicles is beginning to become more certain.Shareholders meetingShanghai announced that it has planned to open electric vehicle factories in the United States and Thailand in 2022, and start mass production the following year. Liu Yangwei, chairman of Hon Hai Technology Group, said that they are still exploring the possibility of setting up factories in Europe.
Taking the US plant as an example, there should be production of electric vehicles for Fisker as reported earlier, which is expected to start at the end of 2021. Fisker and Foxconn are partners of Project Pear at the same time and will share related revenues.according toNikkeiIt is reported that one of Foxconn’s three potential locations is that they will rebuild their existing plant in Wisconsin.
As for the establishment of a factory in Thailand, Foxconn will be a joint venture with PTT Thailand’s National Petroleum Corporation to mainly produce electric vehicle platforms and accessories. The annual production capacity is expected to reach 200,000 electric vehicles.
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