Investor: I'm getting nervous, I'm hearing bankruptcy rumors about everybody in the patch, how slow is it?Oil CEO: Well, we're down to two hookers, and one of them's a virgin.Investor: Oh.
—"Xi Jinping visits China rare earth plant amid talk of use as trade war weapon ", May 2019
From the Register, August 5:
Cites low demand and overcapacity for electric cars on the same day Tesla gives Elon Musk $29 billion for similar reasons
Taiwanese contract manufacturing giant Foxconn has sold its US electric vehicle factory and will use the land to make AI servers instead.
A Monday filing revealed the sale of the facility in Lordstown, Ohio, which Foxconn acquired from startup Lordstown Motors in 2022, and that the company will continue to operate on the site and pursue other activities.
According to Japanese outlet Nikkei, Foxconn sold the plant as it feels the North American electric vehicle market is soft as production capacity exceeds demand, and the company wants to improve its ability to manufacture AI servers in the USA. The Wall Street Journal also reported the shift to server production at the Ohio site.
News of the sale came just days after the July 30 announcement that Foxconn entered a strategic alliance with Taiwanese company TECO Electric & Machinery designed to help the two companies pursue AI datacenter business worldwide.
TECO makes energy infrastructure needed to build datacenters, and Foxconn makes … well … almost anything its customers want, which is often servers and other datacenter hardware....
....MUCH MORE
If interested see also the post immediately below:
"NVIDIA, Foxconn and TESLA Global Manufacturing Disruption with Humanoid Bots"
