The chairman of the Taiwanese company said Foxconn will make the decision between Wisconsin and Mexico later this year.
Major Apple Inc. supplier Foxconn may make electric vehicles at its high-profile but troubled plant in the U.S. state of Wisconsin, although it may decide on Mexico, the Taiwanese company’s chairman said Tuesday.
Foxconn announced a $ 10bn investment in Wisconsin at a 2017 White House reception, visited by President Donald Trump as proof of its ability to revive U.S. manufacturing, but the future is on to be insecure.
Foxconn first tried to make progressive big screen shows for TV there. He later said he would build smaller liquid crystal display screens instead, and 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 heart of U.S. automation.
“There is a lot of work involved in electronics and software for the EVs. We thought it might be a good place to do EVs, ”said Liu.
“We are also thinking of Mexico. We are still deciding. ”
Liu said the company would choose between Wisconsin and Mexico this year.
Making EVs in Wisconsin would be a lottery for the U.S. government, although Liu addressed questions about politics, saying any plans for EVs in the state must make business sense.
As Apple’s key supplier, Profit has focused on whether Foxconn, formally known as Hon Hai Precision Industry Co. Ltd and the world’s largest contract electronics manufacturer, would work with Apple to make a car .
Liu denied that, saying it was just a “rumor”.
Over the past year or so it has announced several contracts for the manufacture of EVs with manufacturers including Fisker Inc., U.S. electric carmaker, Byton China and Zhejiang Geely Holding Group, and a multinational Fiat Chrysler Stellantis NV unit.
Liu said Foxconn would invest about $ 10 billion Taiwanese dollars ($ 354m) annually over the next three years in new businesses including EVs.
China, Europe and the U.S. are all important markets for Foxconn’s exploration into EVs, and the company hopes to reduce development time and costs for manufacturers with their experience in supply chain integration, he said. e.
Liu described Foxconn as the “new baby in town” in car manufacturing and said it needed to build its capacity as quickly as possible to gain the trust of clients.
“It’s just the beginning of this EV era,” he said. “I will say that in three or four years, you will see great growth. We need to be prepared for that. ”