Foxconnwill decide between Mexico and Wisconsin for the site of its first electric-car plant this year, making a big bet on the nascent business, reported Bloomberg.
The Taiwanese manufacturer already has operations in the Latin American country and the central US state, and could utilize its existing structures, Chairman Young Liu of Hon Hai Precision Industry, Foxconn’s flagship unit, said in a briefing in Taipei on Tuesday. Availability and affordability of skilled labor and engineering talent will be among deciding factors, he said.
Foxconn, the world’s largest assembler of iPhones, is hoping to replicate its smartphone success by building clients’ electric vehicles from the chassis on up. Amid reports of Apple’s car project gaining momentum, Foxconn has bulked up its automotive capabilities, aiming to become a contender in the race to make vehicles for the US giant, said Bloomberg.
“Foxconn is the new kid in town,” the chairman told reporters. “We are going to build our capability, so our potential customers will feel comfortable and give us products to make.”