Foxconn Shifts Supply Chains, Focuses on EVs Amid US-China Tensions
Foxconn, the company that manufactures Apple's iPhones and other products, is shifting its supply chains and focusing on electric vehicles as it navigates tensions between the US and China.
The company's chairman and CEO, Young Liu, says that even though some production lines are being moved from China to other countries, the company's business model, which relies on US designs and Chinese manufacturing, is still viable.
There are concerns that the US and China could come into conflict, potentially involving a Chinese blockade of Taiwan or an invasion.
Foxconn is preparing for the worst-case scenario, but Liu believes that the company's focus on job creation in China will help it weather any storm.
The West and its allies are calling for countries and companies to "de-risk" from China, but Liu says that so far, the impact on business has been minimal.
Foxconn, the world's biggest iPhone plant, experienced protests and riots from workers due to the spread of the Covid-19 virus.
The CEO, Liu Young-way, admitted that he should have handled the situation differently, but he would have stopped production even at the risk of irking clients like Apple.
Foxconn is indispensable to its clients, including Apple, and the company is hoping to fuel its next big bet: electric cars.
Foxconn plans to capture about 5% of the global electric vehicle market and will build factories in the US, Thailand, Indonesia, and possibly India.
There are concerns that the US and China could come into conflict, potentially involving a Chinese blockade of Taiwan or an invasion.
Foxconn is preparing for the worst-case scenario, but Liu believes that the company's focus on job creation in China will help it weather any storm.
The West and its allies are calling for countries and companies to "de-risk" from China, but Liu says that so far, the impact on business has been minimal.
Foxconn, the world's biggest iPhone plant, experienced protests and riots from workers due to the spread of the Covid-19 virus.
The CEO, Liu Young-way, admitted that he should have handled the situation differently, but he would have stopped production even at the risk of irking clients like Apple.
Foxconn is indispensable to its clients, including Apple, and the company is hoping to fuel its next big bet: electric cars.
Foxconn plans to capture about 5% of the global electric vehicle market and will build factories in the US, Thailand, Indonesia, and possibly India.
