iPhone maker Foxconn says EV business will need years to ramp up

Quick Summary:

It will probably take another five years for Hon Hai to fully utilise its production lines at an Ohio facility, EV head Jun Seki says.

Still, Seki reaffirmed Hon Hai’s goal of securing 5 per cent of global EV manufacturing in 2025 and said it is interested in becoming a player in Japan and Southeast Asia in addition to the US.

The company’s main EV campus in the US, the Ohio plant will be able to build 350,000 vehicles per year.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongJapan

Topics: Nvidia Seki Vehicle Business Build Years Hai’s Wise Showcasing Tech 2023

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-08 @ 11:15:13 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 260 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 38 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22947394

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