Foxconn to establish EV manufacturing line in India

On June 18, Foxconn Chairman Young Liu revealed in an interview with the BBC that Foxconn has already supplied electric vehicle components to major customers in Mexico and will soon set up an electric vehicle manufacturing line in India. Liu addressed competition from industry giants like Tesla and BYD, as well as traditional automakers. He clarified that Foxconn does not manufacture and sell vehicles under its own brand, instead it adopts a “Contract Design and Manufacturing Services” (CDMS) business model to provide companies with design and manufacturing services. In the future, the aforementioned vehicle manufacturers may become Foxconn’s customers, Liu added. [CLS, in Chinese]

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