Jun 15, 2023

iPhone maker Foxconn to switch to cars as US-China tensions soar

iPhone maker Foxconn is betting big on electric cars and redrawing some of its supply chains as it navigates a new era of icy Washington-Beijing relations. As US-China tensions soar, Mr Liu said, Foxconn must prepare for the worst. "We hire a lot of workers and most countries, including China, want to support their workers," Mr Liu said, adding that the Chinese government wants companies like Foxconn to keep going because of the huge number of jobs they create. To understand how essential it is to Apple you just need to look at how much of the iPhone is made by Foxconn - around 60%, by some estimates. Perhaps not too far in the future, Foxconn will start selling its own cars.

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