Foxconn, one of Apple’s largest manufacturing partners, is going through a major change in its supply chain. Young Liu, the director of the Taiwanese company, stated that they are in the middle of the US-China tension. Foxconn has announced that they are investigating investing in the electric car market to move their factories out of China.
Foxconn invests in electric cars amid US-China tensions
Foxconn CEO Young Liu made important statements about the companies he worked for, especially Apple, in an interview with the BBC. Considering the impact of relations between the USA and China, the company said that they want to work in the field of electric cars.
Foxconn started out of China in order not to be caught in the middle strategically. Some of the production lines moved to Mexico and Vietnam. This decision, however, has been mixed after the Chinese government’s call for “reunification”.
Foxconn aims to account for about 5 percent of the global electric vehicle market share in the coming years. CEO Liu; He stated that Foxconn will establish an electric vehicle factory in various regions including the USA, Thailand, Indonesia and India.
Foxconn, headquartered in Taiwan; It serves large companies such as Apple, Microsoft, Dell and Amazon. It has become one of the world’s largest manufacturers with revenues of $200 billion. However, it is located in a geopolitically strategic region.
We also know that Apple has been conducting research in the electric car world for a while. In the coming years, one of the biggest partners of the project called Apple Car may be Foxconn.
So what do you think about this news? You can share your thoughts with us in the comments section.
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