TaiwanThe electronics giant introduced three prototype electric vehicles at a technology event on October 18, with its newly founded own brand Foxtron.
The event clearly shows Foxconn’s ambitious plan to diversify from its role as a manufacturer to Apple and other technology firms. Three electric vehicle prototypes including an SUV, a sedan and a bus are manufactured by Foxtron – a joint venture between Foxconn and Taiwanese automaker Yulon.
Foxtron vice president Tso Chi-sen said that electric vehicle models could be worth $35 billion to Foxconn over a five-year period.
Foxconn, which aims to become a major player in the global electric vehicle market, has signed deals with US startups Fisker as well as Thai oil and gas group PTT.
Terry Gou, billionaire and founder of Foxconn, test drove the sedan. This product was developed in cooperation with Italian design firm Pininfarina.
The sedan will be sold by an unnamed automaker outside of Taiwan in the coming years, while the SUV will be sold by the Yulon brand and is expected to be launched in Taiwan in 2023. .
The bus – branded as Foxtron – will start running in multiple cities in southern Taiwan next year thanks to a partnership with a local transit provider.
Also in October, Foxconn bought a factory from US startup Lordstown to produce electric vehicles. In August, the company bought a chip factory in Taiwan in a move to supply chips for cars. Foxconn also aims to supply parts or services for 10% of the world’s electric vehicles by 2025-2027.
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