According to a report from NikkeiAsia, Taiwan's Foxconn, one of Apple's largest suppliers, announced its plans to build EV manufacturing plants in the US and Thailand next year to offset the slowing smartphone industry.

The report says Foxconn has ruled out Mexico as a potential site and is in talks with three US states to build its first electric vehicle manufacturing plant in North America. The list includes Wisconsin, which has just reached an agreement with Foxconn to revise its previous plan to invest $10 billion in the state.

Foxconn's US plant will serve clients like Fisker. It may also expand its manufacturing services to serve Apple in the future. Foxconn has partnered with Thai oil and gas conglomerate PTT to develop an EV and component production platform in Thailand.

Apple is reportedly developing its car and is looking for a third-party company to help launch its Apple Car.

An earlier report had hinted that Foxconn is a potential candidate for the Apple Car production, while Apple is also looking at other possible suppliers. It is noted that Apple is committed to ensuring that the batteries used in the Apple Car will be manufactured in the United States.