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Taiwan's Foxconn to build EV plants in US and Thailand in 2022

Production slated for 2023 as iPhone assembler aims to offset smartphone slowdown

Foxconn is diving deeper into the burgeoning global electric vehicle industry. (Photo by Ken Kobayashi)

TAIPEI -- Foxconn, the world's largest contract electronics producer, on Thursday said it will build electric vehicle manufacturing facilities in the U.S. and Thailand next year, as the key iPhone assembler accelerates efforts to catch the rising EV wave to offset the slowing smartphone industry.

"Our plans are to begin mass production in the U.S. and Thailand respectively in 2023," Foxconn Chairman Young Liu told investors in an earnings call. "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."

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