Odd Lots Foxconn Has a Plan to Upend the Electric Vehicle Industry
Jun 9, 2022
Tim Culpan, a Bloomberg Opinion columnist based in Taipei, dives into Foxconn's ambitious plans to shift from iPhone assembly to electric vehicle (EV) manufacturing. He reveals how Foxconn aims to redefine its role by producing key components for EVs, potentially disrupting the automotive industry. The conversation covers the company's history in tech manufacturing, the interdependence between Foxconn and Apple, and the competitive landscape with traditional automakers. Culpan also outlines Foxconn's goal of producing 750,000 EVs annually by 2025, marking a significant industry transformation.
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Foxconn's 2010 Suicides
- Foxconn gained notoriety in 2010 due to suicides at its factories, bringing attention to its large workforce.
- Initially, Chairman Terry Gou didn't consider a few suicides a big deal, given the million employees.
Foxconn's Origins
- Terry Gou's background is in shipping, logistics, and plastics, not electronics.
- Foxconn's name derives from its origins in manufacturing connectors for electronics.
Foxconn's 90s Margins
- Foxconn's high margins in the 90s stemmed from producing specialized components for PCs.
- These components, though low-priced individually, were sold in high volumes, generating substantial profits.