Foxconn Plans To Build EV Factories In The U.S. And Thailand In 2022

Foxconn Plans To Build EV Factories In The U.S. And Thailand In 2022

Andrew H. Sweet

Foxconn is getting more serious about its electric vehicle ambitions. The company told investors that it plans to build EV factories in the U.S. and Thailand in 2022 and start mass-producing vehicles the following year. Chairman Liu Young-way said the company is also in talks regarding possible locations for plants in Europe.

At its U.S. facility, Foxconn will build vehicles for EV clients, including Fisker. The companies signed a deal in May, and Foxconn plans to start making Fisker EVs by the end of 2023. The two are jointly investing in the Project Pear vehicle and will share revenue from it.

Foxconn is in discussions with three states, including Wisconsin, for the EV plant, according to Nikkei.

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