If even Foxconn’s customers are hurting there can be few electronics companies that are fully supplied.
Without stating a time-scale for the 10% reduction, Liu says ‘home economy products’ are particularly badly hit because of increased ordering during lockdowns.
The shortage is likely to last till Q2 22, says Liu.
Foxconn has narrowed down its site for its $1 billion EV plant to Wisconsin and Mexico, says Liu. “We will decide one place for the pilot run and another for mass producing 10,000 cars per month,” he said.
By the end of 2023, Foxconn plans to assemble its first EV with Fisker and to launch a small passenger car in Europe and the U.S. Foxconn plans to introduce an EV model every year and says that 1,350 partners have joined it’s EV platform alliance from 47 countries in Asia, North America, Europe and Africa.
Foxconn’s revenue last year grew 0.31% $187.64 billion.