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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 (NASDAQ:AAPL)’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 (NYSE:MGA), 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.
Magna International was not immediately available for comment.
