iPhone Assembler Entering EV Market
Oct. 21, 2021—Foxconn Technology Group, most well-known as Apple's primary iPhone assembly partner, unveiled on Monday prototype SUV and sedan EV models as it attempts to break into the automotive sector.
According to a report from The Detroit News, the company is planning to build those prototypes for another company rather than selling under its own brand. The move could further legitimize Foxconn as a player in Apple Inc.'s "secretive automotive project," according to the report.
The company last month agreed to purchase a northeast Ohio autoplant from Lordstown Motors for $280 million. The company is also planning to find and/or build an assembly plant in Europe. Foxconn plans to begin production at its new Ohio plant in April 2022.