Apple Supplier Foxconn Breaks Ground on First EV Battery Plant: Report

Apple Supplier Foxconn Acquires Lordstown Motors Vehicle Factory for $230 Million

Taipei: Largest iPhone manufacturer Foxconn on Wednesday broke ground on its first battery cell plant in the southern Taiwanese city of Kaohsiung, the media reported. The move came after the company said it aims to become the first EV maker that is “not short on material supplies.” Apple Supplier Foxconn Resumes Operations in China: Report.

“We plan to build a localised ecosystem for the battery supply chain, from materials to battery cells and battery packs, in Kaohsiung,” said Foxconn Chairman Young Liu, reports Nikkei Asia. “The city will become an important base for Foxconn’s EV global footprint”.

Foxconn aims to capture nearly 5 per cent of the global EV market by the end of 2025. Last year, the Apple supplier moved ahead with its plan to acquire a Lordstown Motors vehicle assembly plant in Ohio, the US for $230 million.

Foxconn has also agreed to pursue a contract manufacturing agreement to assemble Lordstown Motors’ first product, an all-electric pickup truck called the Endurance.

Meanwhile, Apple has also hired veteran Ford executive Desi Ujkashevic, as the iPhone maker plans to launch an electric car in 2024. Ujkashevic, who is Ford’s global director of safety engineering, will join Apple to help it develop a fully electric autonomous car. The iPhone maker has partnered with a South Korean company to develop the autopilot chip for its car.

(The above story first appeared on on Jun 15, 2022 03:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website onhike.com).

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