Foxconn Technology Group’s (富士康科技集團) planned purchase of embattled start-up Lordstown Motors Corp’s auto plant in Ohio might make it a stronger contender to assemble electric vehicles for Apple Inc, but success with the endeavor is far from guaranteed.
The Taiwanese company is the largest maker of iPhones, giving it a potential edge as Apple explores the automotive sector.
Foxconn agreed to spend US$280 million on the Lordstown deal, one of the top vehicle-related investments it has made over the past two years.
Foxconn’s early moves into electric vehicles have yielded few tangible results and Apple is expected to require solid proof of vehicle-manufacturing