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Speaker 1: When you think of electric vehicles or evs, Tesla is

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Speaker 1: probably the first name that pops into your head, and

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Speaker 1: maybe Rivian or even Forward with its F one fifty

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Speaker 1: lightning electric pickup truck that's been sold out everywhere. One

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Speaker 1: name that's likely not on that list Fox Khn, the

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Speaker 1: Taiwan based tech giant, is best known as the company

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Speaker 1: that manufactures iPhones for Apple, along with dozens of popular

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Speaker 1: electronic devices for other companies. Bloomberg's Read Stevenson reports that

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Speaker 1: now Fox Cohn wants to do the same thing for EV's.

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Speaker 1: The company is betting that many automakers won't want to

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Speaker 1: deal with the complexity and expense of developing their own

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Speaker 1: EV production lines. Instead, they'll hire Foxkhnn to build the

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Speaker 1: cars for them. The company bought a sprawling former General

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Speaker 1: Motors plant in Ohio, and it's refitting it to manufacture

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Speaker 1: electric vehicles.

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Speaker 2: Fox Con has the flexibility to say, look, we'll take

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Speaker 2: your business whichever percentage of the car you need us

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Speaker 2: to handle, and the proposition that they can do it

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Speaker 2: faster and cheaper.

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Speaker 1: I'm west Kasova today on the Big Take fox CON's

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Speaker 1: leap from your pocket to your parking spot. Read We

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Speaker 1: talk a lot about how electric cars are their future,

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Speaker 1: and every manufacturer wants to get in on it, just

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Speaker 1: like Tesla, but they're having a hard time. Why has

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Speaker 1: it been so difficult for legacy auto makers to switch

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Speaker 1: out combustion engines for electric ones.

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Speaker 2: Combustion engines are the product of one hundred plus years

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Speaker 2: of technology, they're existing custom there's a lot of investment

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Speaker 2: that you know, went into hybrids, and to ditch all

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Speaker 2: of that. It's the classic innovator's dilemma, Right, do you

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Speaker 2: kill your current customer base in order to transition to

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Speaker 2: an entirely new set of customers. The economics are different,

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Speaker 2: and so what you're finding with Ford and GM and Stilantis,

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Speaker 2: you know, the transition is very tricky. It's going to

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Speaker 2: take longer than most people think. It's going to involve

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Speaker 2: a lot of pain, and so what you're saying this year,

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Speaker 2: for example, is it's just going to happen in fits

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Speaker 2: and starts. So Ford loses money on every F one

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Speaker 2: fifty lightning electric pickup that they make. The company as

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Speaker 2: a whole, it's ev unit is on track to lose

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Speaker 2: four and a half billion dollars this year. That sort

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Speaker 2: of leads you to the notion that starting from zero

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Speaker 2: is the way to go. You can kind of look

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Speaker 2: at Tesla as really an anomaly. You know, they kind

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Speaker 2: of pulled off the impossible, which is going from a

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Speaker 2: startup into a fairly largely scaled manufacturer that's purely focused

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Speaker 2: on EVS. Obviously byd in China and Neo in China

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Speaker 2: and other companies have also gone well along this path.

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Speaker 2: And so when you look at it from both ends,

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Speaker 2: from the startup end and then from the sort of

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Speaker 2: legacy carmaker, and coming from either end of those spectrums

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Speaker 2: is just proving to be absolutely a nightmare for some.

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Speaker 1: So every auto manufacturer wants to get into EVS because

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Speaker 1: it's the future and yet really expensive to make, especially

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Speaker 1: at scale. And into this picture you write, comes Fox Khan,

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Speaker 1: the giant Taiwanese manufacturer. Can you remind us just what

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Speaker 1: Fox Cohn is?

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Speaker 2: So Foxcom makes two out of every three iPhone, They

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Speaker 2: make the Nintendo switch, ring doorbells, Sony PlayStation, Google Pixel.

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Speaker 2: There's actually a pretty good chance that you're listening to

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Speaker 2: this podcast on a device that was built in one

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Speaker 2: of fox CON's factories, and it's made its business essentially

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Speaker 2: as a manufacturer for other name brands. It's not a

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Speaker 2: brand unto itself. Instead, what it does it leverages massive

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Speaker 2: scale and access to labor in China in order to

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Speaker 2: build devices for essentially almost any major electronics manufacturer that

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Speaker 2: you can think of. In fact, they're the world's third

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Speaker 2: largest private employer after Amazon and Walmart, with one point

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Speaker 2: two million employees spread across the world, and even within

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Speaker 2: one factory in Shensan, China, they have hundreds of thousands

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Speaker 2: of people working in dozens of factories with restaurants, a

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Speaker 2: bank of fire station, power plant, hospital, all within a

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Speaker 2: single facility that they use to make the iPhone and

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Speaker 2: all these other gadgets.

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Speaker 1: And read with this kind of capability to build all

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Speaker 1: kinds of products, you write that a lot of these

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Speaker 1: big name brand manufacturers years ago said it's just not

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Speaker 1: worth trying to manufacture this stuff ourselves. We'll just give

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Speaker 1: it to Fox kind to do it for us for.

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Speaker 2: All these gadgets. You know, initially many of these brands

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Speaker 2: started to make them themselves close to home or in

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Speaker 2: the United States or elsewhere, and then realize that outsourcing

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Speaker 2: it made far more business sense. And so essentially this

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Speaker 2: is the argument that Foxcom wants to bring to the

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Speaker 2: EV industry that when you look at how these startups

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Speaker 2: are struggling, how these legacy carmakers are struggling, their proposition is, look,

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Speaker 2: we'll build the EV for you. You can keep the brand name,

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Speaker 2: you can keep all the flourishes that you would put

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Speaker 2: onto it. But we can pull resources, we can access labor,

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Speaker 2: we can build deep and wide supply chain in order

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Speaker 2: to make the economics of building and selling EV's work

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Speaker 2: for essentially any customer. A customer can go to fox

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Speaker 2: Conn and say, you know what, you build ninety percent

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Speaker 2: of the car, and we'll build ten percent of it

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Speaker 2: the badge and the colors and maybe the interior design.

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Speaker 2: Or they may say, you know what, we can build

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Speaker 2: sixty percent of the car, and we need fox Con

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Speaker 2: to build specific parts, maybe the suspension, maybe the powertrain,

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Speaker 2: and fox Con has the flexibility to say, look, we'll

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Speaker 2: take your business whichever sort of percentage of the car

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Speaker 2: you need us to handle. And the proposition that they

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Speaker 2: can do it faster and cheaper.

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Speaker 1: And read one of the things you write is the

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Speaker 1: reason why fox Kin is able to do this is

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Speaker 1: they not only manufacture things but they have access to

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Speaker 1: every kind of part you would need for a product

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Speaker 1: all around.

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Speaker 2: The world exactly. So the other way to think of

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Speaker 2: fox con is that it's also a supplier and not

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Speaker 2: just an assembler. And so whether it's developing technology on

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Speaker 2: its own, it's designing its own chips, it's designing components,

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Speaker 2: it can build it. It can also go find it,

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Speaker 2: and when you look at commonality across devices, it can

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Speaker 2: start to take advantage of scale, so that motors or

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Speaker 2: certain components might be found in multiple different vehicles just

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Speaker 2: because they have access to it, and they can offer

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Speaker 2: it to those name brands much cheaper.

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Speaker 1: So you could see why a struggling automaker looking to

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Speaker 1: get into the EV market or even a startup would

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Speaker 1: find this as an alternative to trying to do all

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Speaker 1: this stuff themselves. But what's in it for fox hhon?

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Speaker 1: Why would they want to take on this really big

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Speaker 1: puzzle which is completely different from what they're doing right now.

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Speaker 2: So for fox Cohn, what you're seeing is that their

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Speaker 2: core business smartphones and electronics and gadgets, we're reaching a

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Speaker 2: certain saturation point. Foxconne has gone out and tried to

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Speaker 2: find ever bigger markets to break into and Eves was

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Speaker 2: one of them. You know, with the disruption and the

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Speaker 2: transition to electric vehicles, they see an opportunity to kind

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Speaker 2: of wedge themselves in there.

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Speaker 1: And it is the idea that because fox Hn is

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Speaker 1: so huge, they need to take on big markets in

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Speaker 1: order to even make a blip in their earnings.

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Speaker 2: Exactly, they had two hundred and twenty two billion dollars

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Speaker 2: in revenue last year, and in order to really move

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Speaker 2: that needle, the electric vehicle industry was an obvious target.

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Speaker 2: Even at the current status of the industry, we're talking

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Speaker 2: about three hundred and eighty billion dollars. And in addition

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Speaker 2: to that, fox Conn is going to be looking at

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Speaker 2: other areas such as robotics and digital health devices.

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Speaker 1: So read fox KHN wants to move into making electric vehicles,

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Speaker 1: and you write that one of the centers of this

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Speaker 1: operation is actually in the US.

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Speaker 2: Exactly. The big difference between making evs and something like

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Speaker 2: a smartphone is that you're going to have to produce

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Speaker 2: them locally. There's transport costs, there's also local tariffs and

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Speaker 2: regulations and subsidies that you can't tap into unless you

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Speaker 2: build locally. Smartphones and gadgets and devices are much easier

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Speaker 2: because most of them are hauled as air cargo around

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Speaker 2: the world from those factories in China, and so fox

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Speaker 2: Con is going to be building ev factories around the

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Speaker 2: world or buying them. The one that's being built is

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Speaker 2: in Thailand right now, but the one that's actually sort

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Speaker 2: of operational right now is in Lordstown, Ohio, in the

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Speaker 2: eastern part of the state. And this is a factory

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Speaker 2: that GM started in nineteen sixty six. It made a

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Speaker 2: bunch of Chevies over the years, and in twenty nineteen,

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Speaker 2: GM was really seeing demand shrink for especially its compacts.

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Speaker 2: Hybrid vehicles were really sort of the preferred choice for

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Speaker 2: at least smaller vehicles. Lordstown was identified as one of

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Speaker 2: the plants that would be closed and it went idle

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Speaker 2: in twenty nineteen. There was a bit of a blip

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Speaker 2: before fox Conn took over. Essentially a startup called Lordstown

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Speaker 2: Motors Corp. Came in initially took the factory off of

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Speaker 2: GM's hands, and then later on another deal sort of

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Speaker 2: ended up with Foxcom buying the factory from Lordstown Motors.

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Speaker 2: Lordstown Motors went Chapter eleven earlier this year, so essentially

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Speaker 2: you know, fox Con is the last remaining entity standing

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Speaker 2: in Lordstown. It owns the plant. It bought it for

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Speaker 2: two hundred and thirty million dollars, and what it's essentially

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Speaker 2: doing is it's preparing it for a future where they

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Speaker 2: will be building evs for a variety of manufacturers.

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Speaker 1: After the break, a look inside fox CON's Ohio factory.

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Speaker 2: When I visited the plant, it's actually a multiple buildings

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Speaker 2: spread across a huge swath of land right next to

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Speaker 2: A eight in Ohio. There's an assembly building, there's a

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Speaker 2: metal stamping plant. There's a paint shop, but it's not

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Speaker 2: really a shop. It's just a huge building onto itself.

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Speaker 2: And what they're doing is they're essentially taking inventory. So

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Speaker 2: in one building, where they used to have robot arms,

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Speaker 2: you know, welding parts together, all of those robot arms

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Speaker 2: have now been removed off the line and set off

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Speaker 2: and lined up on the side. They're assessing which ones

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Speaker 2: might need repair, which ones work fine. The metal stamping

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Speaker 2: machines are also being inventoried in a similar manner. The

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Speaker 2: assembly lines have kind of been stripped back to their basics.

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Speaker 2: One of the people there told me that what they

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Speaker 2: were creating was sort of like a supermarket of factory parts,

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Speaker 2: so that whenever they did start to get orders for

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Speaker 2: making vehicles, they could pull them out and start rebuilding

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Speaker 2: the assembly lines for whatever the customers would need. And

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Speaker 2: really that's the big question here, is whether the business

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Speaker 2: is going to come in the coming months or years.

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Speaker 1: And who's working there right now, who's taking this inventory

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Speaker 1: and getting the factory ready for its next customers.

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Speaker 2: Yeah, so the workers at the factory are mostly former

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Speaker 2: GM workers. For a brief period, many of them worked

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Speaker 2: for Lordstown Motors, and now they work for Fox Cohn.

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Speaker 2: When I was there, they opened up a shop actually

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Speaker 2: so that the employees could go and get Fox con

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Speaker 2: t shirts and hoodies and baseball caps. And along with

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Speaker 2: a bunch of Taiwanese employees, they're essentially preparing the factory,

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Speaker 2: or at least keeping it sort of at a bare

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Speaker 2: subsistence level so that they can build evs when that

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Speaker 2: day comes.

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Speaker 1: Now, this isn't Fox Cohn's first attempt to start a

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Speaker 1: manufacturing plant in the US.

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Speaker 2: You're absolutely right. In Wisconsin, just a few years earlier,

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Speaker 2: the founder of the company, Terry Guoh, who was still

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Speaker 2: running it at the time, essentially he saw sort of

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Speaker 2: a threat to his business model with the Trump administration

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Speaker 2: coming in. Trump was keen to get factories back to

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Speaker 2: the US employee workers in the US otherwise, you know,

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Speaker 2: the threat was that he would impose tariffs on products

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Speaker 2: that were built in China and elsewhere. So the idea

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Speaker 2: by Terry Guoh, Foxcon's founder was to build electronics in Wisconsin,

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Speaker 2: and so he started a factory there. In fact, it's

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Speaker 2: still there. It actually employs even more people, about a

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Speaker 2: thousand people. But it wasn't really clear from the get

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Speaker 2: go what the factory was going to build. Initially, the

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Speaker 2: idea was flat panel televisions. Right now it's doing some

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Speaker 2: assembly of servers. But the current CEO, Young Lieu, who

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Speaker 2: took over from Terry Guoh and nineteen, has essentially decided

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Speaker 2: that the Wisconsin factory is going to become part of

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Speaker 2: the supply chain for EV manufacturing in the US and

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Speaker 2: at Lordstown, and that it could possibly be used to

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Speaker 2: build battery packs.

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Speaker 1: So this factory in Lordtown aims to be far more

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Speaker 1: ambitious because you write that building EV's is many times

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Speaker 1: more complicated than building even a device like the iPhone.

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Speaker 2: Building an EV is somewhere between I would say, building

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Speaker 2: a smartphone and building a car. So if you imagine

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Speaker 2: a smartphone has several hundred components, circuit boards, et cetera,

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Speaker 2: a battery, chips, it starts to resemble an EV. But

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Speaker 2: an EV has many more components one thy, five hundred

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Speaker 2: and above. But then when you look at it from

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Speaker 2: the point of view of a fuel burning engine car,

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Speaker 2: you're looking at tens of thousands of components. You know,

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Speaker 2: the engine alone has thousands, and so evs essentially kind

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Speaker 2: of sit in between that and fox CON's bed is that, well, look,

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Speaker 2: it's going to be simpler than building a car. It's

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Speaker 2: going to be more complicated than building a smartphone. But

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Speaker 2: we have decades of experience building a variety of devices, servers, computers, kindles, laptops, tablets,

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Speaker 2: and so essentially an EV is just sort of a

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Speaker 2: bigger version of that. As far as fox Conn is.

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Speaker 1: Concerned, Red you said that they're getting the factory already

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Speaker 1: for future orders, but have they gotten any interest. Are

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Speaker 1: any manufacturers coming to fox Hunt and saying, please make

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Speaker 1: our cars for us.

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Speaker 2: The interesting thing is there is exactly one customer that

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Speaker 2: is taking advantage of this factory in Lordstown. It's called

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Speaker 2: Monarch Tractor. It's an electric tractor that can be operated

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Speaker 2: remotely with a huge battery that lasts for about fourteen hours.

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Speaker 2: And if you think of the labor shortage that's going

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Speaker 2: on in the US, especially in the agricultural industry, it's

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Speaker 2: not a far fetched idea to have electric tractors that

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Speaker 2: can be operated remotely. You don't have any traffic concerns

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Speaker 2: when you have a tractor going through crop fields and

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Speaker 2: one person can actually operate several at the same time.

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Speaker 2: And so this essentially became a perfect kind of test

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Speaker 2: case for fox con to build a vehicle electric vehicle

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Speaker 2: without a whole lot of risk. These tractors from Monarch

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Speaker 2: cost about eighty nine thousand dollars each. They're fairly straightforward devices.

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Speaker 2: It's all hand assembly at the moment because there's not

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Speaker 2: a huge amount of volume. But what it does is

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Speaker 2: it's a proof of concept. It's something to show other

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Speaker 2: potential customers what Foxcunt can do at the factory. Based

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Speaker 2: on my conversations there, it seems that there's about ten

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Speaker 2: potential entities that are looking at building vehicles in Lordstown,

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Speaker 2: and about five of them are in a fairly advanced

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Speaker 2: negotiation stage. Foxcott hasn't told me which companies it's negotiating with.

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Speaker 2: It could be startups, or it could be legacy car makers.

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Speaker 2: The one that is public knowledge is Fisker. They're looking

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Speaker 2: to build a second car called the Pair, and they've

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Speaker 2: publicly disclosed that their negotiations with fox Con, But as

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Speaker 2: far as I can tell, they haven't reached any final

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Speaker 2: agreement yet.

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Speaker 1: Read is there any indication of when this factory would

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Speaker 1: be up and running.

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Speaker 2: It's essentially up and running right now, just at a

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Speaker 2: really really minor scale. At full capacity, this factory when

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Speaker 2: it was turning out Cheves could make about three hundred

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Speaker 2: and fifty thousand vehicles a year. Fox Con, with some

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Speaker 2: expansion there's some more land around, the factory could make

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Speaker 2: five hundred thousand vehicles a year. But just to put

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Speaker 2: that into perspective, Tesla made one point four million last year.

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Speaker 2: But that's not necessarily the number that matters. It's essentially

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Speaker 2: a factory for components as well, So even if if

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Speaker 2: a large number of vehicles aren't necessarily assembled there, the

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Speaker 2: Lordstown factory can actually build components for other parts of

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Speaker 2: its supply chain, or it could just make components for

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Speaker 2: a conventional automaker. In fact, one of the stories I

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Speaker 2: heard there was that while they were getting this factory

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Speaker 2: refurbished and ready to run again, they got an inquiry

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Speaker 2: from one of the Big three I believe, to make

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Speaker 2: door panels, and Foxcom, being a fairly pragmatic company, I think,

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Speaker 2: took the proposal seriously because, well, you know, door panel's

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Speaker 2: door panel, and if somebody wants to buy them, they'll

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Speaker 2: make them.

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Speaker 1: Are they actually starting to hire people for the future.

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Speaker 1: How many people will work this plant once it's at

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Speaker 1: full capacity.

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Speaker 2: So at the moment, the factory in Lordstown has about

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Speaker 2: four hundred people. That's probably more than they need. At

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Speaker 2: the moment, I think when the factory was at full

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Speaker 2: capacity and running multiple shifts, there were about sixteen hundred

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Speaker 2: people there. So that's potentially as large as it might

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Speaker 2: get at least for a capacity of around you know,

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Speaker 2: three hundred and fifty thousand vehicles. Beyond that, you know,

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Speaker 2: it could actually go into multiple thousands of people. But

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Speaker 2: that's just all going to depend on, you know, how

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Speaker 2: much business they get.

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Speaker 1: When we come back. Read pays a visit to Fox

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Speaker 1: Khan's CEO. Read, the Lord's Down factory that's under development

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Speaker 1: is just one of several manufacturing facilities that Fox Khan

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Speaker 1: plans to build for this big EV push.

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Speaker 3: Is that right?

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Speaker 2: Yeah, So the factory in Lordstown is one that they bought.

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Speaker 2: It's essentially turn key with a little bit of elbow

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Speaker 2: grease and work. But in Thailand they're taking an entirely

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Speaker 2: different approach. They hooked up with a state investment entity

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Speaker 2: and outside Bangkok they're building an EEV factory from scratch.

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Speaker 2: The goal there is within a few years to be

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Speaker 2: able to churn out about one hundred and fifty thousand

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Speaker 2: evs and then down the road they're looking at potentially

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Speaker 2: opening an EV facility in India and then ultimately in Europe,

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Speaker 2: where they also have quite a large manufacturing presence.

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Speaker 1: And read when you were reporting this story, you went

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Speaker 1: and spoke with fox Con CEO. What did he tell

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Speaker 1: you about this big push to steer the company toward evs.

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Speaker 2: Yeah. So, Young Leu, who joined fox Con in two

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Speaker 2: thousand and seven, took over from the founder in twenty nineteen.

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Speaker 2: He's got I think a monumentally complex job, you know,

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Speaker 2: managing one point two million employees. He's got to keep

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Speaker 2: the existing smartphone manufacturing and electronics device business going. And

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Speaker 2: then the EV project is his project. He initiated it

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Speaker 2: after taking over, so he's keeping a pretty close eye

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Speaker 2: on it. To learn a little bit about Fox Con

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Speaker 2: itself and its corporate culture, you know, I went to

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Speaker 2: visit its headquarters and spend some time with chairman and

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Speaker 2: CEO Young Liu in tu Cheng, which is this suburb

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Speaker 2: of Taipei. It's full of factories and the building is unassuming.

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Speaker 2: It's a five story building. As I sort of made

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Speaker 2: my way around the ground floor, you turn a corner

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Speaker 2: and you come across a small factory. You know, behind

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Speaker 2: these sort of soundproof doors, you have stamping machines that

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Speaker 2: are uncoiling thin copper tape stamping out connectors or components

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Speaker 2: for circuit boards. And you know, the factory was there

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Speaker 2: since day one when it was built, probably forty forty

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Speaker 2: plus years ago. I asked people there, you know, why

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Speaker 2: is there a factory here? Most companies would have moved

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Speaker 2: it out a long time ago. And you know, all

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Speaker 2: I got was essentially a verbal shrug. They were like, well,

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Speaker 2: it's there, because it's always been there. If you think

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Speaker 2: of the culture of this company, it costs money to

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Speaker 2: move a factory, and you don't get the components. While

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Speaker 2: the factory is being moved, you lose efficiency at least

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Speaker 2: for a while, so there's no reason to get rid

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Speaker 2: of the factory. So there it stays. The interesting thing

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Speaker 2: was it was kind of across the hall from the cafeteria,

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Speaker 2: so as you're kind of walking through that floor at lunchtime,

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Speaker 2: you get sort of the smell of braised pork belly

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Speaker 2: and Taiwanese food mixed in with like lubricating oil for

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Speaker 2: the snapping machines. So spending time with the CEO, Young Leu,

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Speaker 2: I saw him sit in in a couple meetings, and

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Speaker 2: it was really interesting because he wasn't working in an office.

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Speaker 2: What he was working out of was a conference room,

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Speaker 2: a huge desk with a huge screen in front. But

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Speaker 2: what he had kind of a raid around him were

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Speaker 2: products from his most important customer, Apple, So there was

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Speaker 2: a MacBook, two iPads, he had an Apple Watch on

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Speaker 2: his wrist, and he had an iPhone on his hand,

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Speaker 2: and you know, he's sort of using all of these

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Speaker 2: devices as he's in the call. Every now and then

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Speaker 2: he would sort of tap an unmute button on his

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Speaker 2: iPad and talk to a couple of secretaries and assistants

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Speaker 2: that were on the call, essentially giving them items to

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Speaker 2: follow up on or things to look up or things

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Speaker 2: to take care of while he was in the call.

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Speaker 2: And so I got the impression that, you know, he

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Speaker 2: really doesn't sort of waste a lot of time typing

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Speaker 2: out emails. What he was doing was sort of absorbing

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Speaker 2: information and then acting on it in real time. That's

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Speaker 2: probably what his entire day is like. What he told

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Speaker 2: me was that he only really starts typing messages when

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Speaker 2: he gets home.

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Speaker 1: And what did he have to say about box CON's future?

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Speaker 1: Where does he want to take this company?

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Speaker 2: So the strategy that young Leu came up with is

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Speaker 2: what he calls three plus three and EV's robotics and

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Speaker 2: digital health devices make up the first three, and then

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Speaker 2: the technologogy behind the second three is going to be semiconductors, telecommunications,

393
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Speaker 2: and artificial intelligence. And so what he's really trying to

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Speaker 2: do is break into three kind of naiscent markets and

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Speaker 2: develop the technology to do so.

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Speaker 4: The methodology is to divide and conquer. We divide EV

397
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Speaker 4: into different subsystems, and then for the ones that we

398
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Speaker 4: are familiar with, then we move on to that quickly.

399
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Speaker 4: But for the ones that we were not familiar with,

400
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Speaker 4: you know, we either go invest or go acquire from

401
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Speaker 4: the outside.

402
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Speaker 2: It's not just going to be about offering to assemble

403
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Speaker 2: all of these gadgets for other entities. What he also

404
00:24:46,480 --> 00:24:49,239
Speaker 2: wants to do is become the supplier and build all

405
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Speaker 2: the components that are going to be necessary to essentially

406
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Speaker 2: capture market share in these three large markets.

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Speaker 1: And read there's been a lot of speculation that Fosky,

408
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Speaker 1: which makes Apple devices, now moving into electric vehicles might

409
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Speaker 1: mean that Apple's long rumored push to make an electric

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Speaker 1: vehicle will be a fox cont venture.

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Speaker 2: Yeah. So the sort of unspoken subtext to all of

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Speaker 2: this is that Apple has been working on a car,

413
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Speaker 2: a project that isn't so much of a secret anymore,

414
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Speaker 2: for the better part of a decade. They're still working

415
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Speaker 2: on it, but the timeframe is not clear. Our best

416
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Speaker 2: guess at the moment, based on reporting by Bloomberg News,

417
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Speaker 2: is that an Apple car could debut by the end

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Speaker 2: of the decade. And so another way to look at

419
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Speaker 2: all of fox CON's efforts here is that it's sort

420
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Speaker 2: of ramping up expertise and volume and facilities. Should the

421
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Speaker 2: day come when Apple goes looking for a manufacturing partner

422
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Speaker 2: for evs, that fox Con will be ready because it

423
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Speaker 2: has the long history with the company and it has

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Speaker 2: built up the capacity to deliver the evs that Apple's

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Speaker 2: going to want to design and sell.

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Speaker 3: And what did Foxon say about that? Did you ask

427
00:26:08,320 --> 00:26:11,440
Speaker 3: them fox Con? It's hard to get them to talk

428
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Speaker 3: about any of their customers, but especially hard to get

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Speaker 3: them to talk about Apple. They are arguably Apple's most

430
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Speaker 3: important partner, and Apple is arguably their most important customer.

431
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Speaker 3: It's a relationship that they don't want to damage, and

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Speaker 3: so any conversation about any upcoming Apple product, whether it's

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Speaker 3: an iPhone or an Apple Watch or an ev it's

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Speaker 3: going to be a very short conversation read.

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Speaker 1: Thanks so much for taking us inside fox Con.

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