Taiwan tech giant Foxconn chairman today shared plans to manufacture electric vehicles (EVs) in Europe, India and Latin America, including “indirectly” cooperating with German automakers. Foxconn, formally called Hon Hai Precision Industry Co Ltd, aims to become a major player in the global EV market and has clinched deals with US startup Fisker Inc and Thailand’s energy group PTT PCL.
Speaking to reporters at a business forum in Taipei after unveiling three EV prototypes on Monday, Chairman Liu Young-way said that due to disclosure restrictions he couldn’t provide any details of its plans for Europe, India and Latin America.
The vehicles – an SUV, a sedan and a bus – were made by Foxtron, a joint venture between Foxconn and Taiwanese car maker Yulon Motor Co Ltd. The company will be developing three EVs – Model C, Model E and Model T.
The Model C will be a seven-seat electric SUV 4,640 mm long with a wheelbase of 2,860 mm. The Model C is powered by a 134 hp electric motor and will have a 58 kWh battery pack. The claims acceleration time from 0-100 km/h is 3.8 seconds and has a range of 595 km.
Asked if they would be cooperating with German car firms he said “indirectly”, saying the timeline would be Europe first, then India and Latin America, adding that Mexico was “very possible”. Liu has previously mentioned Mexico as a possible EV production site.
He said they would be using what Foxconn refers to as its BOL model, meaning Build, Operate, and Localise – investing with partners to build and operate local factories and then sell to local consumers.
In May, Foxconn and carmaker Stellantis announced a plan to create a joint venture to supply in-car and connected-car technologies across the auto industry.
Foxconn this month bought a factory from US startup Lordstown Motors Corp to make electric cars. In August it bought a chip plant in Taiwan in a move to supply future demand for auto chips.
Foxconn, best known for making iPhones for Apple Inc, has set a target to provide components or services for 10% of the world’s EVs by between 2025 and 2027, as it looks to diversify revenue streams away from being a contract electronics maker.
Liu, speaking earlier at the same forum, said Taiwan had a natural edge when it came to making EVs because of its existing strength in software and semiconductors.