Report: Foxconn to Build EV Batteries in Lordstown, Wisconsin
LORDSTOWN, Ohio – Taiwanese tech giant Foxconn plans to build new electric-vehicle batteries at its manufacturing plant here and in Wisconsin, according to a report from the news outlet Nikkea Aisa.
According to the report, Foxconn said it plans to move EV battery production to the United States because of the Inflation Reduction Act, which provides tax credits for companies manufacturing EV components and vehicles in the U.S.
“We will build capacity for battery cells and battery packages for energy storage systems in Wisconsin, while we will also build capacity for battery packages for whole cars in our Ohio facility,” Foxconn Chairman Young Liu told investors at a conference this week, Nikkea Asia reported.
Foxconn purchased Lordstown Motors’ assembly plant in May for $230 million.
The company – the largest iPhone producer in the world – has contract manufacturing agreements with Lordstown Motors to build its all-electric Endurance pickup and Monarch Tractor, a company that produces an all-electric and driverless tractor.
It also has an agreement to manufacture the prototype for INDIEV’s first vehicle, the Indi One.
Fisker Inc. Chairman Henrik Fisker has also said he wants to manufacture the company’s next vehicle, the Fisker Pear, at Foxconn’s Lordstown plant. No formal contract is in place between Foxconn and Fisker.
“The timing for the [Inflation Reduction Act] introduction is very good for us,” Liu said. “We saw the opportunities in developing battery-related capacity. The U.S. government is also very supportive.”
Liu is expected to visit North America in the coming weeks, Nikkea Asia reported.
Published by The Business Journal, Youngstown, Ohio.