AUTONEWS

Foxconn executive predicts improvement in the supply of electronic components for the automotive sector

Foxconn (Hon Hai Precision Industry) president Young Liu told a shareholders meeting that the availability of electronic components is expected to improve in the second half of the year, although the lockdowns in China will have a negative impact on the contracted manufacturer's activities last year. half of the year. year. Not only has the production of electronics in China dropped, but so has its consumption.

This week, city officials in Shanghai will lift more restrictions, allowing citizens living in areas of the city with a low risk of contracting coronavirus infection to return to work normally, without having to stay in factories for weeks in a closed-circuit operation. Foxconn companies have been operating in this mode for a long time, which has largely made it possible to avoid the negative impact of lockdowns on production volumes. It is true that, as noted by some media, the forced isolation contributed to the growth of protests among employees of the relevant companies.

At the same time, the head of Foxconn announced the company's intentions to organize the production of high-demand electronic components for the needs of the developing contract business in the production of electric vehicles. By the middle of the decade, the company expects to capture up to 5% of the market for these services, providing customers with near-ready platforms for creating electric vehicles. The situation where a car worth tens of thousands of dollars cannot be shipped due to the lack of a chip worth fifty cents, according to Foxconn management, does not suit many in the industry, so the company will help. solve this problem by organizing your own supply of necessary components.

Image source: Foxconn