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Will electronics companies survive the COVID-19 lockdowns in China?

Published

4 years ago

May 31, 2022

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.

Related Topics:china covid-19 electronics foxconn lockdown SHANGHAI

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.