As it navigates a new era of chilly Washington-Beijing ties, iPhone manufacturer Foxconn is placing significant bets on electric automobiles and reorganizing some of its supply networks.
Young Liu, the chairman and CEO, discussed the potential future of the Taiwanese company with the BBC in an exclusive interview.
Electric vehicles (EVs), according to him, will be the company’s development engine in the ensuing decades, despite the fact that Foxconn is moving some supply chains out of China.
Foxconn needs to be prepared for the worst as US-China tensions rise, according to Mr. Liu.
In his offices in Taipei, Taiwan’s capital, 67-year-old Mr. Liu told us, “We hope the leaders of these two countries will keep in mind peace and stability.”
But I have to consider the worst-case scenario as a CEO of a company.
Possible outcomes include Beijing’s attempts to encircle Taiwan, which it believes is a part of China, or even worse, to invade the autonomous island.
Business continuity planning, according to Mr. Liu, is already in progress. He also said that several production lines, notably those connected to “national security products,” have already been relocated from China to Mexico and Vietnam.
He was probably talking to servers Foxconn produces for data centers, which might house sensitive information.
In 1974, Foxconn, or Hon Hai Technology Group as it is formally known, began manufacturing TV knobs. With an annual revenue of $200 billion (£158.2 billion), it is now among the most powerful technology businesses in the world.
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