Foxconn Technology Group, Pegatron Corp, Compal Electronics Inc and Wistron Corp, all from Taiwan, are world leaders in assembling electronics products for the likes of Apple Inc, Sony Corp and Dell Technologies Inc. They also supply systems used by EV makers such as Tesla Inc and Volkswagen AG. Right now, they largely do so in China.
GLOBAL electronics suppliers looking to diversify their manufacturing footprint beyond China are taking advantage of growing demand for sophisticated components used in electric vehicles (EVs) to shift production closer to their customers overseas.
It’s a smart move that could allay fears that the supply chain is too dependent on one location amid shortages and geopolitical tension.
New corporate clients, a need to tailor vehicles to local markets and a willingness among some governments to subsidise the costs of setting up factories have turned electric vehicles into a catalyst for companies to expand capacity around the world.
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