Foxconn is a key partner for Apple with the iPhone, and is believed to be one of the leading manufacturing partners for Apple’s upcoming Apple Car project. The company even confirmed today that it plans to build electric vehicles in North America by 2023, and is currently hunting locations in the US and Mexico.

Naturally, Foxconn was asked about whether its electric vehicle plans were somehow related to an Apple deal. Foxconn’s CEO simply said that the Apple Car is “still a rumor”.

Foxconn says it will choose a site location before the end of 2021. Candidate locations include Wisconsin and Mexico.

Foxconn’s business surged as it grew alongside the iPhone and the explosive smartphone market over the last decade. However, with the smartphone market now at maturity, the potential for future growth is minimal. This is a key reason why Foxconn is now turning to electric vehicle production.

Whilst it would not confirm an official Apple relationship, Foxconn said it is currently talking to US electric car companies about supply deals.

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