Foxconn intends to specialize in electric vehicles (Apple Car?)

As this period of results draws to a close, all is not rosy for everyone. Indeed, Foxconn, one of Apple’s main partners, seems particularly affected by the context of pandemic (in China), shortage (in the world) and economic tensions (in connection with the conflict in Ukraine).

The firm has just announced a warning on its upcoming results, highlighting in particular the slowdown in demand and the growing problems in the supply chain. But its CEO -Liu Young-way- still wanted to be reassuring.

Despite many market uncertainties (pandemic, geopolitical risks and inflation), Foxconn is reportedly looking to diversify further to reduce reliance on smartphone assembly and consumer electronicswhich accounts for just over half of its total revenue. With this in mind, the Taiwanese would therefore turn to the manufacture of electric vehicles (Apple Car!?), an activity estimated at 34 billion dollars by 2025.

Leave a Comment