Apple Supplier Foxconn Aims To Begin Mass-Producing EVs In US Within 2 Years As Smartphone Sales Slump: Report

Benzinga2021-08-13

Hon Hai Precision Industry Co., Ltd , better known as Foxconn, said Thursday it plans to begin mass production electric vehicles in the United States and Thailand, Nikkei Asiareported. What Happened:...

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Comments

SunbearInv
2021-08-13
SunbearInv
Like please
HAPPY128
2021-08-13
HAPPY128
Go
- Ag1718:
  ??
PS153
2021-08-13
PS153
potential very good
jtttm
2021-08-13
jtttm
Competition will get stronger
- HAPPY128:
  Good
- suetyee:
  Yes
Serenechua
2021-08-13
Serenechua
[強]
- koolgal:
  ??
- Khoo12:
  Yes
duhduhduh
2021-08-13
duhduhduh
Good

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Inc","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":894416285,"gmtCreate":1628846910647,"gmtModify":1676529873351,"author":{"id":"3576100208689627","authorId":"3576100208689627","name":"SunbearInv","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894416285","repostId":1162203414,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":894576161,"gmtCreate":1628843430653,"gmtModify":1676529872246,"author":{"id":"3584839175733894","authorId":"3584839175733894","name":"HAPPY128","avatar":"https://community-static.tradeup.com/news/c97f96308e64ad1328ae8ea4d90c3d3f","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Go","listText":"Go","text":"Go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/894576161","repostId":1162203414,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5911829,"gmtCreate":1631942125654,"gmtModify":1634795881789,"authorId":3582350348015234,"author":{"id":3582350348015234,"authorId":3582350348015234,"name":"Ag1718","avatar":"https://community-static.tradeup.com/news/7b99db6dd9dd4eaa84bd8baf04aad0b9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":894576161,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"}],"langContent":"EN"},{"id":894546236,"gmtCreate":1628842838225,"gmtModify":1676529871957,"author":{"id":"3564565270877568","authorId":"3564565270877568","name":"PS153","avatar":"https://static.tigerbbs.com/2e185e8aa9ee6ee618f951b9141b9e40","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"potential very good","listText":"potential very good","text":"potential very good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894546236","repostId":1162203414,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":894558485,"gmtCreate":1628842249547,"gmtModify":1676529871701,"author":{"id":"3581985604623691","authorId":"3581985604623691","name":"jtttm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Competition will get stronger","listText":"Competition will get stronger","text":"Competition will get stronger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/894558485","repostId":1162203414,"repostType":4,"repost":{"id":"1162203414","pubTimestamp":1628840179,"share":"https://www.laohu8.com/m/news/1162203414?lang=&edition=full","pubTime":"2021-08-13 15:36","market":"us","language":"en","title":"Apple Supplier Foxconn Aims To Begin Mass-Producing EVs In US Within 2 Years As Smartphone Sales Slump: Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1162203414","media":"Benzinga","summary":"Hon Hai Precision Industry Co., Ltd , better known as Foxconn, said Thursday it plans to begin mass ","content":"<p><b>Hon Hai Precision Industry Co., Ltd</b>&nbsp;, better known as&nbsp;<b>Foxconn</b>, said Thursday it plans to begin mass production&nbsp;electric vehicles in the United States and Thailand, Nikkei Asiareported.</p>\n<p><b>What Happened:</b>Foxconn Chair&nbsp;<b>Young Liu</b>&nbsp;reportedly said at the company’s April-June quarter earnings call that “Our plans are to begin mass production in the U.S. and Thailand respectively in 2023.”</p>\n<p>“Other than in the U.S. and Thailand, we are also in talks with possible locations in Europe too as part of our global EV footprint strategy,\" Liu said, as per Nikkei Asia.</p>\n<p>The U.S. plant will address the needs of&nbsp;<b>Fisker Inc.</b>&nbsp;, an EV startup, for which Foxconn will start building EVs by the end of 2023, the executive disclosed.</p>\n<p>The plant in Thailand will be a joint venture with local oil and gas giant PTT and will focus on the development of a platform and component production for EVs, as per Liu.</p>\n<p>The planned capacity at the Thai facility will reach 150,000 to 200,000 units, reported Nikkei Asia.</p>\n<p><b>Why It Matters:</b>Foxconn’s second-quarternet income rose 30%on a year-over-year basis to NT$ 29.8 billion ($1.07 billion), beating an estimate of NT$25.7 billion ($923.29 million).</p>\n<p>The&nbsp;<b>Apple Inc</b>&nbsp;supplier expects sales of smartphones to fall sequentially this quarter, as per Bloomberg.</p>\n<p>In March, it was reported that Foxconn wasexploring North American manufacturing siteswith possible locations spanning Wisconsin or Mexico.</p>\n<p>Mexico has been ruled out as a possible location but the company is still negotiating with three U.S. states including Wisconsin, as per Nikkei Asia.</p>\n<p>Foxconn supplies to a number of large tech names such as&nbsp;<b>Apple</b>,<b>Microsoft Inc</b>&nbsp;, Google parent&nbsp;<b>Alphabet Inc</b>&nbsp;and&nbsp;<b>Amazon.com, Inc</b></p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Supplier Foxconn Aims To Begin Mass-Producing EVs In US Within 2 Years As Smartphone Sales Slump: Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ 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href=https://www.benzinga.com/news/21/08/22481495/apple-supplier-foxconn-aims-to-begin-mass-producing-evs-in-us-within-2-years-as-smartphone-sales-slu><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hon Hai Precision Industry Co., Ltd , better known as Foxconn, said Thursday it plans to begin mass production electric vehicles in the United States and Thailand, Nikkei Asiareported.\nWhat Happened:...</p>\n\n<a href=\"https://www.benzinga.com/news/21/08/22481495/apple-supplier-foxconn-aims-to-begin-mass-producing-evs-in-us-within-2-years-as-smartphone-sales-slu\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HNHPF":"Hon Hai Precision Industry Co. Ltd.","FSR":"菲斯克","AAPL":"苹果"},"source_url":"https://www.benzinga.com/news/21/08/22481495/apple-supplier-foxconn-aims-to-begin-mass-producing-evs-in-us-within-2-years-as-smartphone-sales-slu","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162203414","content_text":"Hon Hai Precision Industry Co., Ltd , better known as Foxconn, said Thursday it plans to begin mass production electric vehicles in the United States and Thailand, Nikkei Asiareported.\nWhat Happened:Foxconn Chair Young Liu reportedly said at the company’s April-June quarter earnings call that “Our plans are to begin mass production in the U.S. and Thailand respectively in 2023.”\n“Other than in the U.S. and Thailand, we are also in talks with possible locations in Europe too as part of our global EV footprint strategy,\" Liu said, as per Nikkei Asia.\nThe U.S. plant will address the needs of Fisker Inc. , an EV startup, for which Foxconn will start building EVs by the end of 2023, the executive disclosed.\nThe plant in Thailand will be a joint venture with local oil and gas giant PTT and will focus on the development of a platform and component production for EVs, as per Liu.\nThe planned capacity at the Thai facility will reach 150,000 to 200,000 units, reported Nikkei Asia.\nWhy It Matters:Foxconn’s second-quarternet income rose 30%on a year-over-year basis to NT$ 29.8 billion ($1.07 billion), beating an estimate of NT$25.7 billion ($923.29 million).\nThe Apple Inc supplier expects sales of smartphones to fall sequentially this quarter, as per Bloomberg.\nIn March, it was reported that Foxconn wasexploring North American manufacturing siteswith possible locations spanning Wisconsin or Mexico.\nMexico has been ruled out as a possible location but the company is still negotiating with three U.S. states including Wisconsin, as per Nikkei Asia.\nFoxconn supplies to a number of large tech names such as Apple,Microsoft Inc , Google 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