Foxconn's profit disappoints, but the big manufacturer has set its sights on electric vehicles

Foxconn's parent company, Hon Hai Precision Industry today reported disappointing results for the last quarter, which is partly explained by its accelerated effort to make electric cars. For the three months ending in December 2020, Foxconn's net income was $1.6 billion, which not only misses the average estimates of $1.76...