Apple supplier Foxconn discusses electric vehicle plant in Wisconsin

Foxconn of Taiwan said on Friday it was in talks with the U.S. state of Wisconsin about building electric vehicles there, as part of Apple’s main supplier efforts to diversify revenue streams.

Foxconn and electric car manufacturer Fisker said in May that they had finalized a vehicle assembly deal. They did not identify a location, but the CEO of Fisker said the Foxconn Wisconsin site was a possibility.

In a statement, Foxconn said it has started talks with Wisconsin.

“Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company’s plans for manufacturing electric vehicles. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions,” he added.

The company, officially called Hon Hai Precision Industry, gave no further details.

In April, Foxconn greatly reduced a planned $ 10 billion (approx. Rs. 74,620 crore) plant in Wisconsin, confirming its withdrawal from a project that the former US president Donald trump once called “the eighth wonder of the world” and was supposed to build state-of-the-art flat screens.

A month earlier, the Foxconn chairman said he could make electric vehicles at the Wisconsin site, but could decide Mexico and make a decision this year.

Over the past year, Foxconn has announced several agreements on the production of electric vehicles with automakers such as Fisker, China’s Byton and Zhejiang. Geely Holding Group, and by Stellantis Fiat Chrysler unit.

Foxconn aims to provide components or services to 10 percent of the world’s electric vehicles by 2025 to 2027, posing a threat to established automakers by allowing technology companies a shortcut to compete in the vehicle market.

© Thomson Reuters 2021

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