TAIPEI – Foxconn announced on Friday that it is in negotiations with the state of Wisconsin in the United States about constructing electric vehicles there, as part of the key Apple Inc supplier’s effort to diversify its revenue streams. In May, Foxconn and Fisker Inc, an electric car manufacturer, announced that they had reached an agreement on vehicle assembly. They didn’t specify a location, but Fisker’s CEO suggested Foxconn’s Wisconsin plant.
Foxconn announced in a statement that it has began talks with Wisconsin.
“The Wisconsin Economic Development Corporation has been contacted by Foxconn to discuss the company’s plans for electric vehicle manufacturing. Foxconn is excited about our collaboration with WEDC and looks forward to further discussions “It was also noted. Hon Hai Precision Industry, as the corporation is officially known, did not provide any other information. Foxconn announced in April that a planned US$10 billion factory in Wisconsin would be drastically scaled back, confirming its withdrawal from a project that former US President Donald Trump once dubbed “the eighth wonder of the world” and was supposed to produce cutting-edge flat-panel display screens.
Foxconn’s chairman said a month ago that the company would produce electric vehicles at its Wisconsin plant, but that it might choose Mexico instead, and that a decision will be made this year.
Fisker, China’s Byton and Zhejiang Geely Holding Group, and Stellantis NV’s Fiat Chrysler unit have all signed arrangements with Foxconn for the construction of electric vehicles in the last year or two.
By 2025 to 2027, Foxconn hopes to supply components or services to 10% of the world’s electric vehicles, creating a threat to existing automakers by providing technology businesses a shortcut into the vehicle sector.
(Ben Blanchard contributed reporting; David Goodman and David Evans edited the piece.)/n
