Foxconn suggests plans to build electric vehicles in Wisconsin

Foxconn suggests plans to build electric vehicles in Wisconsin

New Delhi: Taiwan’s Foxconn on Friday signalled that it has decided to build electric vehicles in the U.S. state of Wisconsin.

“Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company’s plans for electric vehicle manufacturing. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions,” the company said in a brief statement.

Foxconn and electric car manufacturer Fisker Inc said in May that they had finalised a vehicle-assembly deal. They did not identify a location, but Fisker’s CEO said that Foxconn’s Wisconsin site was a possibility.

In June 2021 Foxconn said a subsidiary has invested T$995.2 million ($36 million) in Gigasolar Materials Corp to develop electric vehicle (EV) battery materials.

The Taiwanese company aims to provide components or services to 10% of the world’s electric cars by 2025 to 2027, Foxconn chairman Liu Young-way said in October, vowing to lower manufacturing and other costs with its assembling know-how as the world’s largest contract electronics manufacturer.

News source- Economic Times

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