KAOHSIUNG, Taiwan -- Foxconn broke ground on its first battery cell plant on Wednesday, marking the latest move by the key iPhone assembler to make inroads into the booming electric vehicle industry.
"We plan to build a localized ecosystem for the battery supply chain, from materials to battery cells and battery packs, in Kaohsiung," Foxconn Chairman Young Liu said at the groundbreaking ceremony in the southern Taiwanese city. "The city will become an important base for Foxconn's EV global footprint.
