Mexico is one of the key locations for the Foxconn's strategic investments this year, according to the report, citing a person with direct knowledge of the matter.

Foxconn, the world's biggest contract electronics manufacturer and a key iPhone assembler, will have local manufacturing options in Ohio, Wisconsin and Mexico for EV clients, the report added.

(Reporting by Shivani Tanna in Bengaluru; Editing by Rashmi Aich)