Foxconn's EV production finally begins. This new business activity is a part of the iPhone assembler's effort to diversify its operations.
For the past few years, Foxconn has been known across the globe because of it being among the top component suppliers.
It works with popular OEMs (original equipment manufacturers), especially Apple. But, Foxconn also wants to expand its expertise.
Since the car industry is booming, tech manufacturer wants to enter this rising market. Foxconn will do this by producing Lordstown's Endurance electric pickups.
Foxconn EV Production Begins
According to Bloomberg's latest report, Foxconn Technology Group will start manufacturing the Lordstown Endurance pickup trucks.
The iPhone assembler was able to start this business operation after it successfully purchased Lordstown's Ohio factory.
Foxconn bought this manufacturing plant back in May for $230 million. The gadget maker said that its agreement with the electric-truck maker would allow it to take around 400 of Lordstown's employees.
On Sept. 29, Lordstown announced that the Foxconn EV Ohio Plant had already rolled out the first two commercial release production Endurance units.
As of writing, the third electric pickup truck is still being completed by Foxconn. Lordstown said that they are hoping to deliver around 50 units of Endurance pickups before 2022 ends.
EV Production Will Start at Slow Rate?
Since Foxconn and Lordstown are still adjusting to their joint venture agreement, the initial EV production is expected to be slow.
This means that the targeted 50 Endurance pickup units will still depend on the iPhone assembler's production efficiency.
Meanwhile, Lordstown CEO Edward Hightower also confirmed that several issues are affecting their production's efficiency.
"We will continue to build at a slow rate as we address remaining part pedigree and part availability issues. We expect to increase the speed of production into November and December," said the company's president via Teslarati.
In other news, Foxconn's China facility recently recruited more workers.
Previously, Foxconn acknowledged that its supply chain was improving.
For more news updates about Foxconn and its EV journey, keep your tabs open here at TechTimes.
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Written by Griffin Davis
