According to Foxconn President Yang Liu, the Taiwanese manufacturer is adjusting to international tensions between China and Taiwan. According to the CEO, the company will invest in electric vehicles, aiming to win about 5% of the global market in this segment over the next few years.

Foxconn’s president commented on the company’s strategy in an interview with the BBC. According to him, the manufacturer is “making its way” because of relations with China and should change the focus of its investments. Because of this, the longstanding partnership between Apple and Foxconn must be affected. In the end, about half of Apple’s products (iPhone and iMac) are made in factories in China.. For example, one of the world’s largest iPhone factories is located in Shenzhen, China and is owned by Foxconn.

Foxconn invests in electric vehicles

Foxconn also has partnerships with Sony, Microsoft, Amazon and Dell and said some of its Western customers (without naming which ones) have requested that products be made outside of China. “They get pressure from the government to reduce risk and then let us know.“, – commented Yang Liu BBC BBC.

Therefore, as Foxconn invests in electric vehicles, the company should focus its investments outside of China. Liu says the company’s experience in electronics is a big advantage. In fact, a BBC reporter claims that Foxconn’s CEO pointed to the dashboard of an electric vehicle and said: “look at this, it’s a big iPhone so we know each otherThe Taiwanese company believes that the electric vehicle segment represents a big opportunity for growth, which we see reflected in the global market as a whole. According to the BBC, the company plans to build factories in Thailand, Indonesia, India and the USA.

It’s too early to say how the company’s new stance should affect Apple’s production plans, mainly at its factories in China. Given the tense relationship between China and Taiwan, it makes sense that the company would look to other regions in Asia to locate its factories.

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Source: Tech Gain

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