Foxconn, the largest iPhone assembler, forecasts a 5-year timeline to optimize its Ohio EV facility.

Hon Hai Precision Industry, known as Foxconn, the largest iPhone assembler, forecasts a lengthy timeline for establishing its electric vehicle (EV) business amid declining global sales. Jun Seki, head of its EV division, estimates it will take five years to optimize an Ohio facility acquired in 2022. Meanwhile, Foxconn's AI server manufacturing is thriving, driven by demand for Nvidia chips, resulting in a nearly 90% rise in its stock this year. The company aims for 5% of the global EV market by 2025.

October 08, 2024
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