Foxconn will build its own electric vehicle plant in Thailand. According to techcrunch.com, the design capacity will be 50,000 copies per year.
The new assembly site is being created in partnership with Thai oil supplier PTT PLC, in fact it is a joint venture, in which only 40% is owned by Foxconn. According to the plan, the initial design capacity of 50 thousand vehicles will triple by 2030.
According to analysts of the consulting company GlobalData, Thailand is a fairly new market in terms of the availability of production sites in the country. That is, the large-scale construction of factories in the country is a very recent phenomenon. However, Thailand is very supportive of such projects and provides favorable conditions for companies that decide to create their own enterprises.
Interestingly, the country’s government is almost the main supporter of the new Foxconn automobile project. This is completely understandable, because Thailand hopes to become a regional center for electromobility, bringing the share of this type of transport to 30 percent of all cars produced in the state by 2030.
We should also mention the mysterious Foxconn electromobility division, which will be named Foxtron. In spy shots, their first car has already come across. Due to the very mediocre quality, it is not possible to draw any unambiguous conclusions regarding the exterior, but the model is very similar to the American Lucid Air. In addition to Thailand, they plan to master mass production of Foxtron in the USA.