Smartphone manufacturer Foxconn plans to bring two EV models to the US
Remember Foxconn? It’s been years since we’ve spoken the name, so it was a big surprise that the automotive division of the behemoth electronics manufacturer would be one of the first Chinese (technically Taiwanese) brands to come to the States. A Foxconn executive recently detailed a full offensive of new BEV models in the works, two of which will hit the US market and one as early as late 2025.
We last covered Foxconn in 2023 as the electronics specialist and automotive contract manufacturer was caught in a tiff with its client Lordstown, which inevitably led to the demise of the short-lived electric pickup startup.
As you may recall, Foxconn acquired the Lordstown production facility in Ohio to build vehicles for other OEMs but had a rough go of it. In addition to failed production runs with Lordstown Motors, Foxconn was also tapped for US manufacturing of Fisker’s second BEV model, the PEAR. We know how that saga ended.
Last we heard, Foxconn was assembling all-electric tractors in Ohio for Monarch, but that was over two years ago. With the way this industry moves, two years without any news is enough to get lost in the EV ether. The Foxconn name has reemerged in recent months as the world’s largest electronics manufacturer has been tied to Nissan, Honda, and Mitsubishi (possibly all three) as a potential partner to help build software-defined vehicles (SDVs).
In a recent chat with the media, one of Foxconn’s top executives avoided discussing an alliance with Japanese automakers aside from continued interest in a possible joint venture but did divulge plans for six battery electric vehicles to be built in Taiwan and shipped around the globe, two of which will reach US consumers.
Foxconn plans two BEVs that will eventually be built in US
As reported by Auto News Europe, we learned some interesting plans about Foxconn’s global EV expansion, which includes two models in the US, following an April 9 press conference in which Jun Seki touted the Taiwanese company’s potential as a BEV contract manufacturer.
During the presentation, Seki outlined Foxconn’s plans for six all-electric models and buses, proclaiming that the company has the necessary toolbox to design and assemble a full range of EVs. Per Seki, those models will initially be built in Taiwan and shipped worldwide, but Foxconn has the capacity for localized production in different regions, including the US.
Of those six Foxconn models donning the company’s “Foxtron” badge, two are expected to hit the US: The Model D multi-purpose vehicle (MPV), designed by Pininfarina, and the Foxtron Model C crossover, which has been in production for the Taiwanese market since late 2023 as the Luxgen N7.
Foxconn’s Model C will hit the US first and will be available for customers to test by late 2025, per Seki. The Model D is expected to reach US consumers sometime in 2027. While these models will initially be built overseas and shipped over, Foxconn’s top executive shared both models are expected to eventually be built on US sold, assumedly at the Lordstown facility, although that has not been confirmed.
Foxconn also has plans for several non-US BEVs, including a Model B compact crossover, Model E sedan, Model A compact van, and a Model T large bus, and Model U minibus.
Foxconn’s plans to bring EVs to the US come at an interesting time, considering a growing trade war between the US and China amid rising tariffs from both sides. Those ongoing tensions will undoubtedly play a role in Foxconn’s decision whether or not to try and import the Model C and Model D into the US, or could expedite its eventual plans to build them in North America.
This will undoubtedly be a story to watch as we move deeper into 2025. Perhaps we will see the Model C pop up at US showrooms; perhaps not!
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Chevron is not seeing signs that the U.S. is close to a recession even as President Donald Trump’s tariffs weigh on expectations for oil demand, CEO Mike Wirth said Tuesday.
“There’s no signs that we see at this point that we are in or close to a recession,” Wirth told CNBC’s “Squawk Box.” “There are signs that growth may be slowing and we have to always be prepared for that.”
The International Monetary Fund on Monday cut its growth outlook for the U.S. this year to 1.8%, down from 2.7% previously.
The oil market is expecting reduced demand as a consequence of Trump’s tariffs and the decision by OPEC+ increase production faster than expected, Wirth said. Chevron isn’t changing its capital spending plans in response to drop in prices, the CEO said.
U.S. crude oil prices have fallen about 11% since Trump announced his tariffs on April 2. West Texas Intermediate was last up about 72 cents at $63.80 per barrel. OPEC and the International Energy Agency have cut their demand outlooks for this year.
Wirth said U.S. onshore oil production in patches like the Permian Basin is likely to pull back if prices hit $60 per barrel. Offshore production likely won’t be affected, he said.
“That’s an area where if we were to be at a $60 price or even lower you’re likely to see activity pull back in this sector and you’ll see the production response over a few months,” Wirth said. “That’s what we should watch, not so much the deep water activity.”
Chevron is not expecting a major direct impact on its business from Trump’s tariffs as energy has largely been exempt from the levies, Wirth said.
“The effects that we feel are likely to be more the macroeconomic effects as they flow through the economy,” Wirth said. “The bigger issues would be what would it mean for growth, and global trade and how does that evolve.”
Executives at oil and gas companies were scathing in their criticism of Trump’s tariffs in an anonymous March survey by the Federal Reserve Bank of Dallas, warning that steel tariffs were raising their costs and low prices could impact their activity.
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Little is known about super-secretive EV startup Slate, but the fledgling brand is rumored to be backed by Jeff Bezos and determined to shake up the existing electric order with an affordable lineup of compact SUVs and pickups with that golden $25,000 price tag.
Now, at least, we know what it’s gonna look like. The battle of the billionaires is on!
Redditor jonjopop over at the spotted subreddit spotted what looks like an early prototype of an unbranded SUV with bizarre “CryShare” wrap. CryShare, as a concept, seems to combine the functionality of a ride sharing app like Uber or Lyft with the familiar (to parent, anyway) idea that small babies will often sleep better in a moving car than in their own cribs … but that’s not what’s important here.
Instead, focus on the vehicle itself – parked on Abbot Kinney Boulevard in Los Angeles without explanation or fanfare, this is our best look yet at the kind of vehicle(s) Slate is likely to reveal in the coming days.
Stumbled upon the Bezosmobile [Slate Automotive…idk?] being revealed with an absolutely bizarre marketing campaign
byu/jonjopop inspotted
Other local automotive journalists caught wind of the public unveiling, too – and our friends at The Autopian (Hi, Matt!) sent their own David Tracy out on the streets of LA to check it out. Tracy took the following video and posted it to Instagram.
The Slate breaking cover and causing buzz just ahead of what’s sure to be a painful Q1 earnings call for Tesla is a masterstroke of marketing – especially as doubts surrounding the viability of a “less expensive” Tesla Model Y or Model 3 continue to mount amid the uncertainty of Trump’s tariffs and declining sales of the brand’s more profitable models both at home and abroad.
As with so much involving Slate, however, there is nothing here written in stone – or even cast in cheese. Nothing has been announced, nothing is promised, and for all we know this might have more to do with the affordable Rivian brand launch, a new BYD, or be a viral marketing bit from some local Art Center design student in (relatively) nearby Pasadena. In fact, about the only thing I think we can say about Bezos (?) new Slate project with confidence today is this: Elon could probably use that drink.
SOURCES | IMAGES: Reddit, The Autopian.
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