Hon Hai Shifts Focus to AI Servers Amid Slow EV Market Growth

Hon Hai Precision Industry Co., the world`s largest iPhone assembler, is cautiously expanding its electric vehicle (EV) manufacturing business due to a slow global EV market. The company believes it will take several years to reach full production capacity at its US factory. Despite this, Hon Hai aims to capture 5% of the global EV market share by 2025, eventually targeting a share comparable to its smartphone manufacturing dominance. Meanwhile, Hon Hai`s production of AI servers, driven by strong demand from major cloud providers, is experiencing rapid growth and has become a key focus for the company.