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Supply Chain

Foxconn says it will build EV batteries in Wisconsin and Ohio

Key iPhone assembler aims to more than double its EV revenue this year

Foxconn is betting on its EV component business to help offset a slowdown in the smartphone market, a key segment for the Taiwanese company.    © Reuters

TAIPEI -- Key iPhone assembler Foxconn on Wednesday said it plans to build electric vehicle batteries in Wisconsin and Ohio as the U.S. Inflation Reduction Act spurs demand for local production.

"We will build capacity for battery cells and battery packages for energy storage systems in Wisconsin, while we will also build capacity for battery packages for whole cars in our Ohio facility," Foxconn Chairman Young Liu told an investors' conference.

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