Foxconn Selects and Crossover Models; a Client Must 'Sell a Lot of EVs': All Details

Foxconn Selects and Crossover Models; a Client Must 'Sell a Lot of EVs': All Details ...

Foxconn, the world''s largest contract electronics company, said on Tuesday that it wants its customers to sell electric automobiles in large quantities, manufactured in Taiwan, Thailand, and the United States, as well as in India and Indonesia.

Foxconn, based in Taiwan, intends to broaden its EV network, assisting diversify away from its potential of developing consumer electronics such as iPhones for Apple and other IT companies.

Chairman Liu Young-way said that alongside a joint venture known as the Mobility in Harmony platform, Foxconn was "opening up traditional carmaking in closed loop" to cut design time and development costs by a third.

"Foxconn isn''t in the business of selling its own EV brand." However, Liu said, in pre-recorded remarks, that "we want our customers to sell a lot of electric vehicles."

In recent years, the company has expanded into areas, including EVs and semiconductors, announcing partnerships with Fisker International, a US startup company and Vedanta, an Indian company.

Three prototypes - an SUV, a sedan, and a bus - were unveiled last year, and Foxconn is in negotiations with partners in Indonesia and India, according to Liu.

  • Jio Picks Nokia, Ericsson as Equipment Suppliers Ahead of India 5G Rollout

"Our greatest hope is that Taiwan can take advantage of this once-in-a-hundred-year, rare EV business opportunity."

The Luxgen n7 EV, built by Foxtron, a cooperative venture between Foxconn and Taiwanese car manufacturer Yulon Motor, has totaled 15,000 people in just two days, according to the pre-order figures.

"Despite the challenges of Europe and COVID worldwide, Foxconn has maintained our EV strategy," Liu said.

"Our global footprint in 24 countries gives us a significant advantage to meet demand for EV industry."

Terry Gou''s birthday was celebrated during the annual tech event. Introduced as a special guest, Gou drove onstage in one of the two prototypes unveiled this year, the Model B sporty crossover hatchback.

Another prototype was the Model V, which is a semi-terrain pickup.

Thomson Reuters 2022