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EVs are new iPhone: Foxconn CEO sees next earnings driver

Apple supplier will take decentralized approach to making cars, Liu says

Foxconn's platform for electric vehicles is unveiled at a company event in Taipei in October 2020.    © Reuters

PALO ALTO, U.S. -- Electric vehicles are the "next big product" for iPhone assembler Foxconn and are "very, very likely" to grow into a bigger business than electronics, Chairman and CEO Young Liu said.

The Taiwanese group is weighing plans to produce electric vehicles in China and the U.S., entering a fast-growing segment of the auto market where tech players can compete with traditional automakers.

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