Foxconn, Thailand to jointly make EVs from 2024
Foxconn will join forces with Thailand’s energy group PTT to manufacture electric vehicles from 2024, with the combined investment planned to total up to $2 billion.
According to a report published by the Nikkei on Tuesday, the joint venture will establish a facility in eastern Thailand where about 50,000 vehicles will be produced, and eventually reach up to 150,000 by the end of the decade.
Separately, Foxconn announced its first electric vehicle last year, which the company wants to mass-produce also in the United States and China.
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