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Apple’s Top iPhone Supplier Seeks EV Battery Deal Because We All Know Why

Foxconn’s expansion in the automotive market is happening at a super-high pace, with the company now said to be in talks with Vietnam-based Vingroup over the manufacturing of EV batteries and other parts.
Apple Car rendering 1 photo
Foxconn, which is currently Apple’s number one partner for the production of the iPhone, is investing aggressively in the manufacturing of parts for electric cars, and it’s believed the company is currently in pole position to become a contract manufacturer for the Cupertino-based tech giant.

In other words, Foxconn could be the one building the highly-anticipated Apple Car, especially after Apple failed to find a traditional carmaker that would be willing to manufacture its upcoming EV.

According to people familiar with the matter and analysts, Apple wants to launch its Apple Car in 2024 or 2025 at the earliest.

A report from Reuters citing sources close to the talks reveals that Foxconn wanted to take over all EV production lines belonging to VinFast, a unit operating under Vingroup’s umbrella, all in an attempt to gain full control over the entire process. But the Vietnamese group is seeking a partnership with Foxconn, as it wants not only to grow its business using a collaboration with a foreign company but also to retain its EV business in the long term.

Vingroup has confirmed that it’s currently discussing with Foxconn, but the talks are still in their early phases and no agreement has been reached just yet.

Vingroup has received proposals from Foxconn but nothing is concrete yet. The partnership, if any, will focus on developing the batteries and electric car parts,” a spokesman for Vingroup is quoted as saying. “No decision on working together to produce EVs has been made yet.

In the meantime, Foxconn is also getting ready to begin the production of electric vehicles at a new plant located either in Wisconsin or in Mexico. A decision on where the process would take place is projected to be made by the summer, company officials have indicated.

 
 
 
 
 

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