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EVs instead of iPhones

Foxconn is one of the world’s largest contract manufacturers and suppliers of consumer electronics. The Taiwanese company, known in Asia as Hong Hai, manufactures an average of six out of ten smartphones for Apple. But since profit margins in its core business have been steadily declining, the group is looking to broaden its reach and expand into the electric vehicle segment. In October, Foxconn already unveiled its first three EV models at a presentation in Taipei: a sedan, an SUV, and a bus.

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