Foxconn’s electric vehicle production continued to stall at the newly acquired assembly line, purchased last year from Lordstown engine. The Taiwanese manufacturermade countless devices for AppleGoogle, Microusually and sony now learning that cars are many harder to do compared to smartphones, according to Bloomberg.
In case you lost it:
Lordstown hired Foxconn to build its electric vehicles after the manufacturer bought it Lorsdtown, Ohio manufacturing plant from the fledgling U.S. EV maker in 2022. Their partnership was one of the conditions included in the $230 million plant sale and Foxconn bought a stake of the EV company soon after, effectively putting the tech giant’s vast resources to support Lordstown Motors.
by Foxconn Its willingness to jump into electric vehicle production and start running with concepts that convey its great expectations seems to bode well for the partnership between the Taiwanese OEM and Lordstown. But Foxconn has so far only been able to produce “a handful of prototypes, a few dozen electric buses and about 40 pickup trucks for Lordstown,” as Bloomberg report.
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Production of the Lordstown Endurance EV pickup has been affected by recalls and other delays around high production costs, per Bloomberg:
In January, Lordstown asked Foxconn suspends production because the cost to build the trucks exceeded the target selling price of $65,000. A few weeks later, it became apparent that Endurance was suffering from a lack of stamina. At least one owner reported that the truck lost power while driving in cold weather, prompting the company to issue a recall in February. Then on March 6, Lordstown said that if it could not partner with an experienced automaker, it would be forced to discontinue production of the pickup truck, its only model.
Notice how Lordstown emphasizes “experienced automaker” in its statement. And among the truck’s build and recall issues, Foxconn is having problems with the cost of building electric vehicles — thus failing to meet the Lordstown Endurance EV’s $65,000 price target. Loss leaders are nothing new in the tech industry, but a smartphone or console is a far cry from a 6,500-pound EV. Even Foxconn can’t afford to sell Endurance at a loss.
These issues are raising questions about Foxconn’s ability to mass produce electric vehicles and could herald a troubled production cycle ahead for many. start an electric car has partnered with Foxconn. The irony is that these companies turned to Foxconn precisely because of their manufacturing expertise and understanding of the global supply chain. Among these US EV startups are king tractorIndiEV and high configuration Fisher.
Monarch has hired Foxconn to build fully electric autonomous vehicles for use on the farm, and Foxconn will move production of the robotracctors to Lordstown by the end of March. Fisher still negotiating cooperation with Foxconn to build pearONE affordable EV under $30,000. But if Foxconn is struggling to make an EV for less than $65,000 – admittedly, in a different segment and price range – then the outlook for Foxconn/Fisker Pear seems uncertain. And for IndiEV, the future looks even more uncertain as the company is said to be undercapitalized and in danger of going out of business soon.
For now, the future of Foxconn’s all-electric cars remains unclear. The Taiwanese tech maker has announced its auto business will generate $33 billion in annual sales by 2025, just two years away. We’ll see, and so will Foxconn. In the end, maybe there’s no such thing as Iphone on the wheel. don’t even let manufacturer has mastered profitable iPhone production.
