Thursday, October 10, 2024

Foxconned in Ohio: More backpedaling and empty promises

 
Photo by Retiring Guy
Headline Youngstown Business Journal, 10/10/2024
“We want to be very smart investment wise, development wise,” Jun Seki, Foxconn’s strategy chief for EVs, told the news agency. Bloomberg also quoted the executive saying that a “fast move may be dangerous,” as global EV sales continue to slow. 
Seki said given the market, it would take approximately five years to fully build out the Lordstown factory, which it acquired from Lordstown Motors Corp. in 2022. 
At present, Foxconn uses the plant to produce the MK-V, an electric and autonomous-option tractor that is manufactured by California-based Monarch Tractor. Approximately 500 people are employed at the plant.

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