More stable supply chain, predicted by Foxconn

Taiwan’s Foxconn said that the second half of the year is heading in a better direction. This is because of the release in the lockdown in Shanghai. Foxconn chairman Liu Young-way told that they are quite confident in the stability of their supply chain for the second half of this year. They are aiming to become the first electric vehicle maker not short on material supplies. Because, there was a prolonged global chip shortage, which led the carmakers to halt production and also hurt smartphone production. Liu said that a car that costs tens of thousands of dollars cannot be shipped. And that has been a pain for their customers. They are aiming to capture around 5% of the global electric vehicle market by the end of 2025. Foxconn is hoping to boost its capacity in making EV chips. The revenue for its electronics business could slip this quarter due to rising inflation, cooling demand and escalating supply chain issues partly due to lockdowns in China. Foxconn’s shares closed up 2.3%. They have