Foxconn To Increase Production Capacity in Mexico To Cater To EV Demand
By: Asia Business Outlook Team
Foxconn and other Taiwanese technology suppliers are increasing production capacity in Mexico to meet rising demand for electric vehicles (EVs) and servers made in North America.
Based on the report, which cites a person with direct knowledge of the matter, Mexico is one of the key locations for Foxconn's strategic investments this year.
As stated in the report, Foxconn, the world's largest contract electronics manufacturer and a key iPhone assembler, will have local manufacturing options for EV clients in Ohio, Wisconsin, and Mexico.
Hon Hai Precision Industry Co., Ltd., also known as Hon Hai Technology Group in China and Taiwan and Foxconn in the rest of the world, is a Taiwanese multinational electronics contract manufacturer headquartered in Tucheng, New Taipei City, Taiwan. The company's annual revenue in 2021 was 5.99 trillion New Taiwan dollars (US$175 billion), and it was ranked 20th in the 2022 Fortune Global 500. It is the world's largest manufacturer and provider of technology services. While headquartered in Taiwan, the company is the People's Republic of China's largest private employer and one of the world's largest employers. Terry Gou is the founder and former chairman of the company.