According to media reports, Foxconn Group Chairman Liu Young-way recently announced that the company will build new electric vehicle factories in Europe, India and North or South America by 2024 in order to expand the group's presence in the e-mobility sector.
Liu said they will first reveal detailed plans for their European plant, then India, and finally the South American market. All of these plants involve partnerships with local governments or government recommended companies. For example, in Europe, they will work indirectly with German automakers. Their plant in the Americas will serve the South American market, although the factory may eventually be sited in Mexico in North America - a key hub in the automotive supply chain and a key Foxconn production base.
Foxconn unveiled three new electric vehicle prototypes on Monday, an SUV, a luxury sedan and a bus, built by Foxtron, a joint venture between Foxconn and Taiwanese automaker Yulon Motors.
Foxconn Plans New EV Plants in Europe, India and Americas by 2024