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Thread: Foxconn sets sights on making EVs in Europe, India, Latin America

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    Foxconn sets sights on making EVs in Europe, India, Latin America

    Foxconn sets sights on making EVs in Europe, India, Latin America




    Taiwan tech giant Foxconn is looking at making electric vehicles (EVs) in Europe, India and Latin America, including "indirectly" cooperating with German automakers, Chairman Liu Young-way said on Wednesday.

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    Foxconn, formally called Hon Hai Precision Industry Co Ltd, aims to become a major player in the global EV market and has clinched deals with U.S. startup Fisker Inc and Thailand's energy group PTT PCL.

    Speaking to reporters at a business forum in Taipei after unveiling three EV prototypes on Monday, Liu said that due to disclosure restrictions he couldn't provide any details of its plans for Europe, India and Latin America.

    "Europe will be a bit faster, I agree with that. But as to where, I can't tell you," he said.

    Asked if they would be cooperating with German car firms he said "indirectly", saying the timeline would be Europe first, then India and Latin America, adding that Mexico was "very possible".

    Liu has previously mentioned Mexico as a possible EV production site.

    He said they would be using what Foxconn refers to as its BOL model, meaning Build, Operate, and Localise - investing with partners to build and operate local factories and then sell to local consumers.

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