Name: Foxconn says it's considering building or designing electric vehicles in Mount Pleasant
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Foxconn says it's considering building or designing electric vehicles in Mount Pleasant

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Subscribe to our Daily Headlines newsletter.Please subscribe to keep reading. You can cancel at any time.Loading&amp;hellp;{{title}}{{description}}{{banner}}(renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax){{tagline}}{{special_title}}{{html}}You are the owner of this article.You have permission to edit this article.© 2022 Lee EnterprisesShare ThisFoxconn says it's considering building or designing electric vehicles in Mount PleasantShare thisFoxconn hinted Wednesday that it may build, or at least design, electric vehicles at its Mount Pleasant campus.Hon Hai Precision Industry Co., Foxconn’s Taiwanese parent company, has made announcements throughout the week that it is looking to get into the electric-powered vehicle business. But exactly what impact this might have locally is unclear, as its contract with the State of Wisconsin and plans for Mount Pleasant remain up in the air, although the company has hinted that cars could be built and/or designed in Wisconsin.On Wednesday, Fisker Inc. — a California-based automaker , and which is planning to release its first electric vehicle () late next year — announced that it was partnering with Foxconn for the production of its second vehicle. Fisker says that its next vehicle, codenamed Project PEAR, could start production at the end of 2023.“While the exact location has yet to be determined, Fisker Chief Executive Henrik Fisker said there is a very good chance initial production will be in the U.S., in part because Foxconn already has a factory in Wisconsin,” .Foxconn says that its foothold in Mount Pleasant made the connection with Fisker possible.Foxconn Technology Group, , issued a statement Wednesday following Fisker’s announcement: “Our presence in Wisconsin has caught the attention of many businesses and investors who share our vision for a Park that is sustainable for business and community growth. This will make our Park, the region, and our state a new hub for next-gen technological product design and smart manufacturing. As a contract manufacturer, Foxconn requires flexibility in order to respond to market demand with speed and agility.”“They’ve got a factory there and quite a lot of land with quite a lot of possibility for expansion,” Henrik Fisker was quoted as saying by the Wall Street Journal. “We haven’t made a final decision on that but that’s an obvious one.”Wall Street responded favorably to the news, with .The electric vehicle industry has seen rapid growth, from being practically nonexistent in 2010 to a market share just shy of 3% in 2019, . Deloitte, an international audit company, projects as many as 30% of new cars may be electric by 2030.Earlier this week, showed that Foxconn is on the road toward developing electric vehicles. Three vehicles, a bus and two cars, could be rolled out before the end of 2021, Hon Hai said.The company, the and other electronic products for fellow tech giants such as and , has set the lofty goal of selling 10% of the world’s electric vehicles by 2025, according to Foxconn Chairman Young Liu. By 2027, the company wants to have .According to Hon Hai, more than 700 companies are partnering with Hon Hai (i.e., Foxconn) in the effort., although reports indicated a contract had not yet been signed in January when the partnership was announced.The new venture is known as That all came prior to the Fisker announcement.Although no production contract has been reported, Fisker said that it had entered into a memorandum of understanding with Foxconn “supporting a project to develop a breakthrough electric vehicle.”“We created our company to disrupt every convention in the auto industry,” Henrik Fisker said in a statement. “The creation of Project PEAR with Foxconn brings together two like-minded and complementary companies, each focused on creating new value in a traditional industry.”China, where the biggest of Foxconn’s plants are located, is the biggest market for electric vehicles on the planet. In 2019, auto sales in China fell by 4% overall despite electric vehicle sales growing by 6%.Subscribe to our Daily Headlines newsletter.This image, bearing the signature of Fisker CEO Henrik Fisker, accompanied the announcement that the California-based automaking startup is partnering with Foxconn to produce its second electric vehicle.The outside of Foxconn's High-Performance Computing Data Center Globe is shown.{{title}}{{summary}}You don't have any notifications.Get up-to-the-minute news sent straight to your device.Topics

Subscribe to our Daily Headlines newsletter.Please subscribe to keep reading. You can cancel at any time.Loading&amp;hellp;{{title}}{{description}}{{banner}}(renews at {{format_dollars}}{{start_price}}{{format_cents}}/month + tax){{tagline}}{{special_title}}{{html}}You are the owner of this article.You have permission to edit this article.© 2022 Lee EnterprisesShare ThisFoxconn says it's considering building or designing electric vehicles in Mount PleasantShare thisFoxconn hinted Wednesday that it may build, or at least design, electric vehicles at its Mount Pleasant campus.Hon Hai...

Foxconn says it's considering building or designing electric vehicles in Mount Pleasant

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