The world’s largest contract electronics maker is optimistic about the second half of the year, as Shanghai’s COVID-19 lockdown appears to be easing
The Chair of FoxConn says the supply chain is heading “in a better direction”, as authorities begin allowing residents in some areas to return to work.
Foxconn is aiming to become the first EV maker “not short on material supplies”, in light of the global chip shortage.
The global supply crunch is causing pain for some executives who say a car costs tens of thousands of dollars but cannot be shipped because of a tiny chip worth fifty cents.
The Taiwan-based company wants 5 per cent of the global EV market by the end of 2025.
China’s COVID-zero policy has struck at the heart of the nation’s manufacturing hub, and is driving to a slump in demand.
