Electric vehicles continue to gain in popularity. Between 2011 and 2021, the number of EVs on the road increased from 22,000 to over 2 million.
A new company is entering the market to capitalize on that growing market. Foxconn announced plans to manufacture electric vehicles for sale in North America, according to Nikkei Asia.
The Taiwanese electronics company is known for its iPhone assembly operations, but it also makes electric vehicles. It has models it plans to sell through a partnership with Mitsubishi. Foxconn already owns an electric vehicle plant in Ohio.
It makes sense that companies want to break into North America's growing electric vehicle market. Consumers save significant amounts of money because the cars don't require expensive gas or maintenance, such as fluid and oil changes. They also have quieter engines.
The environmental benefits are also tremendous. Because they don't require gas, they don't release harmful carbon pollution. This means less pollution and healthier air for all living things.
The expansion into the North American market by Foxconn is just the latest great news on the electric vehicle front. A Chinese company, Gotion High-Tech, recently announced plans to mass-produce an electric vehicle battery that can range over 600 miles. Blink Charging, which produces electric vehicle chargers, recently moved its headquarters to a state-of-the-art facility in Maryland with plans to produce 50,000 charging units a year.
There are many incredible options for those thinking about making the switch to an electric vehicle. But one way to massively increase the cost benefits of driving an EV is to install solar panels. Charging your vehicle via solar is much cheaper than using public charging stations or relying on the grid.
And now it is easier than ever to make the switch to solar. EnergySage offers a free online tool that allows consumers to compare quotes from vetted contractors. It has saved customers up to $10,000.
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Would you be more likely to drive an EV if you could charge it in 5 minutes? Click your choice to see results and speak your mind. |
Yes 👍 "2025 will be a year of strong growth for Foxconn," said Wu Junyi, deputy general manager and head of public relations, per Nikkei Asia.
He went on to explain the company has "high hopes for the EV business." Wu said the company was being strategic about the ongoing tariff situation as "local production and consumption of EVs will be necessary."
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