The leading contract electronics manufacturer in the world, Foxconn, revealed two electric vehicle concepts on October 18 at its third annual Hon Hai Tech Day. The Taiwanese manufacturer seeks to expand its business from producing consumer electronics like iPhones for Apple Inc. to entering the automotive industry.
It is worth noting that the annual tech day was held on the company’s billionaire founder Terry Gou’s birthday. Gou was introduced as a special guest and drove the Model B sporty crossover hatchback onto the stage.
Rappler reported that Foxconn wants its clients to sell many electric vehicles made in Taiwan, Thailand, the United States, and perhaps even India and Indonesia.
Chairman Liu Young-way announced at the company’s annual Hon Hai Tech Day that Foxconn was “opening up the closed-loop nature of traditional automaking” to cut design timelines in half and development costs in thirds. The initiative will be done with an industry alliance known as the Mobility in Harmony platform.
“We used to make PCs and mobile phones. From now and into the future, we will create EVs,” said Young-way in a statement. “In the EV industry, we are resolute about CDMS: This means contract design and manufacturing service. This commitment will not change. In the next 10 years, Hon Hai in the EV industry will redefine CDMS in the automotive field and continue to promote vertically integrated technology services.”
Model V electric pickup truck and Model B electric crossover hatchback are two vehicles Foxconn employs to let manufacturers (especially Tesla) know it is open for business.
According to TechCrunch, the Model B crossover and the Model V pickup were the main attraction at the event.
Nonetheless, Foxconn also displayed the Model C, which the manufacturer boasts has a range of 435 miles. It can also accelerate from 0mph to 60 mph in just 3.8 seconds. In the second half of next year, Foxconn plans to ship the Model C to Yulon in Taiwan.
“Foxconn is not in the business of selling its own EV brand. But, yes, we want our customers to sell a lot of EVs,” Liu said in pre-recorded remarks.
In recent years, the company has expanded into industries including semiconductors and electric vehicles. It announced partnerships with Indian behemoth Vedanta Ltd. and US startup Fisker Inc.
Three prototypes—an SUV, a sedan, and a bus—presented last year will be “gradually” constructed in Taiwan, Thailand, and the US.
Furthermore, Liu noted that Foxconn is now negotiating with partners in India and Indonesia.
“Our heartfelt hope is that Taiwan can seize this once-in-a-hundred years, rare EV business opportunity.”
In less than two days, Foxtron, a joint venture between Foxconn and Taiwanese automaker Yulon Motor Co Ltd., reportedly received 15,000 pre-orders for its Luxgen n7 electric vehicle.
“Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy,” Liu said.
“Supply chain resilience has always been Foxconn’s DNA. Our global footprint in 24 countries gives us a huge advantage to meet EV industry demands.”
Over the past few years, there has been a significant shift in the automotive industry toward electric vehicles. It has recently accelerated even more, and the future seems incredibly promising. Notably, Foxconn’s push to electrification can boost it further.
