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Volkswagen in talks with Foxconn over plant for Scout autos

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© Reuters. FILE PHOTO: Volkswagen emblem is pictured on the 2022 New York Worldwide Auto Present, in Manhattan, New York Metropolis, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Picture

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BERLIN (Reuters) – Volkswagen (ETR:) is in talks with Taiwan’s Foxconn a few partnership to construct autos for the Scout model, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen firm sources.

Volkswagen stated in Might it deliberate to reintroduce the Scout off-road model, making a separate, unbiased firm to construct Scout vehicles and SUVs beginning in 2026 that can be designed, engineered, and manufactured in the US for U.S. clients.

Foxconn, finest recognized for assembling Apple (NASDAQ:)’s iPhone, has expanded into constructing electrical autos for auto manufacturers, hoping for five% market share in EV manufacturing by 2025.

Volkswagen stated it might not touch upon hypothesis about potential partnerships. Foxconn declined to remark.

Volkswagen can also be in talks with Magna Steyr, a subsidiary of Magna Worldwide (NYSE:), who’ve been trying to construct a plant in the US, Automobilwoche reported.

It might additionally construct its personal plant, although that is the least doubtless possibility, the report stated.

Magna Worldwide declined to remark.

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