Inflation Reduction Act Spurs Foxconn to Build EV Batteries in the United States

March 20, 2023

Foxconn has announced plans to build electric-vehicle (EV) batteries at its manufacturing plants in Mount Pleasant, WI, and in Lordstown, OH, according to a report from the news outlet Nikkea Aisa.   According to the report, Foxconn plans to move EV-battery production to the facilities because of the Inflation Reduction Act, which provides tax credits for companies manufacturing EV components and vehicles in the United States.

Foxconn has contract manufacturing agreements with Lordstown Motors to build its Endurance EV pickup, and with  Monarch Tractor, a company that produces an all-electric and driverless tractor. And Fisker Inc. Chairman Henrik Fisker recently said he wants to manufacture the company’s next vehicle, the Fisker Pear, at the Lordstown plant. 

Technologies: Management


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