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Search resuls for: "Foxconn Technology Group"


12 mentions found


☆ Foxconn Hires Chip Veteran in Diversification Drive
  + stars: | 2022-11-22 | by ( Yang Jie | ) www.wsj.com   time to read: 1 min
TOKYO—Taiwanese contract manufacturer Foxconn Technology Group hired Chiang Shang-yi, a veteran with decades of experience at some of the world’s biggest chip makers, to drive further expansion into semiconductors and bolster its supply chain. Best known as the world’s biggest assembler of iPhones, Foxconn is seeking new engines of growth from manufacturing chips and sectors that rely on them, such as electric vehicles.
☆ Foxconn Says Aims to Swiftly Recover iPhone Production Levels at Covid-Hit Site
  + stars: | 2022-11-10 | by ( Yang Jie | ) www.wsj.com   time to read: 1 min
Foxconn Technology Group is aiming to quickly bring production levels back to normal at its iPhone assembly site in China hit by a Covid outbreak and worker shortages, its chief executive said Thursday. Foxconn is still operating its main iPhone plant in Zhengzhou under a closed-loop system, which means largely keeping the site shut off from the outside world and allowing workers to only move between their lodging and the production lines, the company said. Foxconn didn’t say when it plans to end such operations.
☆ Foxconn Effort to Ease Workers’ Fears of Covid Led to Tighter Lockdown
  + stars: | 2022-11-07 | by ( Wenxin Fan | Selina Cheng | ) www.wsj.com   time to read: 1 min
HONG KONG—When a small group of workers spent 27 hours in early October locked inside the world’s biggest iPhone plant, it seemed little more than another temporary confinement in China’s continuing war against Covid-19. But the outbreak persisted, and on Monday, days after saying operations were stabilizing, Foxconn Technology Group cut its outlook for the current quarter. The company said it was locking down eight of the 11 dormitory blocks at the plant in the central Chinese city of Zhengzhou as part of a government-directed plan to end the outbreak.
☆ Foxconn Plans to Invest $170 Million in EV Truck Maker Lordstown Motors
  + stars: | 2022-11-07 | by ( Sean Mclain | ) www.wsj.com   time to read: 1 min
Foxconn Technology Group, the world’s biggest contract manufacturer for electronics, is deepening its investment in Lordstown Motors Corp., a once-troubled EV startup that recently began building its first all-electric pickup truck at a former General Motors Co. plant in Ohio. The two companies said Monday that Taipei-based Foxconn plans to spend $170 million to buy both common stock and newly created preferred shares, providing Lordstown Motors with a fresh injection of capital as it works to increase production of its debut model, the Endurance.
☆ Saudi Arabia to Build Electric Vehicles With Apple Supplier Foxconn
  + stars: | 2022-11-03 | by ( Rory Jones | ) www.wsj.com   time to read: 1 min
The fund has already invested in the Lucid Group, an electric-vehicle maker with plans to set up a factory in the kingdom. Saudi Arabia’s sovereign-wealth fund is partnering with the biggest assembler of Apple Inc. iPhones to manufactur electric vehicles, part of an effort to create an industrial sector that Crown Prince Mohammed bin Salman hopes can diversify his economy away from oil. The Public Investment Fund said Thursday it entered a joint venture with Taiwan-based Foxconn Technology Group to establish an electric-vehicle brand, called Ceer, that will license component technology from BMW to build cars. Foxconn, formally known as Hon Hai Precision Industry Co., will develop electronics in the vehicles with “infotainment, connectivity and autonomous driving technologies,” the Saudi fund said in a joint statement with Taiwanese firm.
☆ Fisker confirms production of the Ocean SUV will start later this month, now has over 62,000 reservations
  + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com   time to read: +1 min
Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker said Wednesday it is on track to begin production of its first model, the Ocean SUV, later this month as planned — and that it now has more than 62,000 reservations for the vehicle, up from over 56,000 as of early August. CEO Henrik Fisker told CNBC the company plans to manufacture 42,400 Oceans by the end of next year. The majority of those vehicles will be built in the second half of 2023, Fisker said. Fisker said that work on its second model, a low-cost EV called the Pear, is progressing ahead of schedule.
☆ Foxconn to Shift Some iPhone Production From Covid-Hit Plant to Other Sites
  + stars: | 2022-10-31 | by ( Yang Jie | ) www.wsj.com   time to read: 1 min
TOKYO— Foxconn Technology Group is planning to shift some production from its Covid-struck iPhone factory in central China to other sites in the country, people familiar with the matter said, as many workers frightened by the outbreak have left the factory. Foxconn has been struggling to contain a Covid-19 outbreak in its Zhengzhou facility, the world’s biggest assembly site for Apple Inc.’s smartphones. There, hundreds of thousands of workers have been largely shut off from the outside world for more than two weeks after the company announced the introduction of closed-loop operations, which means that workers are allowed to move only between their dorms or homes and the production lines.
☆ Apple's iPhone production could be hamstrung due to a COVID-induced worker exodus at Foxconn, its biggest supplier
  + stars: | 2022-10-31 | by ( Lakshmi Varanasi | ) www.businessinsider.com   time to read: +3 min
Workers are fleeing from Foxconn, China's largest iPhone factory, amidst a COVID outbreak. It's colloquially known as 'iPhone City' and produces about half of Apple's global supply of iPhones, according to The New York Times. The Zhengzhou Foxconn factory went into a closed-loop system after COVID-19 cases began emerging in mid-October. This isn't the first time that production at a Foxconn factory has been disrupted due to COVID-19 this year. In September, JPMorgan analysts noted that the company could move 25% of its iPhone production to India by 2025.
☆ Inside a Chinese iPhone Plant, Foxconn Grapples With Covid Chaos
  + stars: | 2022-10-30 | by ( Wenxin Fan | Selina Cheng | ) www.wsj.com   time to read: 1 min
HONG KONG— Foxconn Technology Group is scrambling to contain a weekslong Covid-19 outbreak at an iPhone factory in central China, trying to appease frightened and frustrated workers during a crucial period for smartphone orders. In Foxconn’s main Zhengzhou facility, the world’s biggest assembly site for Apple Inc.’s iPhones, hundreds of thousands of workers have been placed under a closed-loop system for almost two weeks. They are largely shut off from the outside world, allowed only to move between their dorms or homes and the production lines.
☆ China’s Covid Fight Disrupts Businesses, Food Supplies as Cases Spread
  + stars: | 2022-10-27 | by ( Wenxin Fan | ) www.wsj.com   time to read: 1 min
HONG KONG—China showed no signs of easing its zero-Covid policies that are taking a heavy toll on its economy, as fresh cases disrupted businesses in major cities and food supplies in a remote northwestern region. On Thursday, the central Chinese city of Zhengzhou, which is home to Foxconn Technology Group, the largest iPhone assembler, said the virus was spreading quickly there and identified 50 affected areas. The city reported 69 cases over the past three days.
☆ Apple iPhone maker Foxconn says it wants to make cars for Tesla as it ramps up EV push
  + stars: | 2022-10-19 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +1 min
Young Liu, chairman of Foxconn Technology Group, speaks in front of a Model C electric vehicle during an event in Taipei, Taiwan, on Tuesday, Oct. 18, 2022. Liu said he hopes one day that Foxconn can make cars for Tesla. Foxconn , the biggest assembler of Apple's iPhones, wants to one day build cars for Tesla , the company's CEO said, as it pushes further into electric vehicle manufacturing. Hon Hai Technology Group, Foxconn's official name, launched two electric vehicle prototypes on Tuesday — the Model V pickup truck and Model B sports crossover hatchback. "I hope one day we can do Tesla cars for Tesla," Liu said.
☆ IPhone maker Foxconn reveals its electric car future
  + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +4 min
Lordstown Motors sold the factory to Foxconn earlier this year while Foxconn, in turn, agreed to build Lordstown’s electric pickup, the Endurance, there. Another California-based startup, Indi EV, has also agreed to have Foxconn build its car, the Indi One, there. Aside from road-going automobiles, Foxconn has also agreed to build an electric farm tractor, the Monarch MK-V, at the factory. Luxgen’s parent company, Yulon Group, and Foxconn created a joint venture called Foxtron in 2021 to develop and manufacture electric vehicles. Various Foxconn companies are part of an large industry group called the MIH, or Mobility in Harmony, consortium, which is jointly developing the basic electric vehicle engineering platform that underlies Foxconn’s electric vehicles.
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