Volkswagen in talks with Foxconn over plant for Scout vehicles – Automobilwoche

1 min read
FILE PHOTO: VW logo at 2022 New York International Auto Show

BERLIN (Reuters) – Volkswagen is in talks with Taiwan’s Foxconn about a partnership to build vehicles for the Scout brand, German autos publication Automobilwoche reported on Tuesday, citing Volkswagen company sources.

Volkswagen said in May it planned to reintroduce the Scout off-road brand, creating a separate, independent company to build Scout trucks and SUVs starting in 2026 that will be designed, engineered, and manufactured in the United States for U.S. customers.

Foxconn, best known for assembling Apple’s iPhone, has expanded into building electric vehicles for auto brands, hoping for 5% market share in EV manufacturing by 2025.

Volkswagen said it would not comment on speculation about possible partnerships. Foxconn declined to comment.

Volkswagen is also in talks with Magna Steyr, a subsidiary of Magna International, who have been looking to build a plant in the United States, Automobilwoche reported.

It could also build its own plant, though this is the least likely option, the report said.

Related News:   Europe's luxury stocks have room to rise, but becoming costly

Magna International declined to comment.

(Reporting by Victoria Waldersee, Jan Schwartz, Ben Klayman; editing by Rachel More)

tagreuters.com2022binary_LYNXMPEIAS0JF-BASEIMAGE

tagreuters.com2022binary_LYNXMPEIAS0JH-BASEIMAGE