Foxconn aims to build EV factories in Europe and India by 2024

Multiple American plants also possible as key iPhone assembler races into autos

Foxconn Chairman Young Liu says regional production will be key to achieving the iPhone assembler's auto ambitions. (Photo by Lauly Li)

LAULY LI, Nikkei staff writer

October 20, 2021 15:05 JST

TAIPEI -- Foxconn will build electric vehicle factories in Europe, India and either North or South America by 2024, as the key iPhone assembler looks to rapidly expand its presence in the booming EV industry, the company chairman said.

The Taiwanese tech titan and world's largest contract electronics manufacturer has made EVs a key part of its growth strategy, reflecting a maturing smartphone market.