Foxconn, a Taiwanese technology company, has announced its entry into the electric vehicle market and plans to manufacture its vehicles in India. Days after showing its first three concept electric vehicles, Foxconn Chairman Liu Young-way announced his company’s worldwide manufacturing intentions.
Foxconn, according to Liu, is willing to build its electric vehicles in countries including India, Brazil, and Europe.
However, he stated that owing to ‘disclosure constraints,’ a comprehensive strategy for Foxconn’s arrival in India or Brazil cannot be revealed at this time. According to Liu, “I agree that Europe will be a little faster. But I’m afraid I won’t be able to tell you where.” He also stated that Foxconn is willing to work with German automakers “indirectly.”
On Monday, Foxconn, the world’s largest iPhone manufacturer, announced its entry into the electric car market with the unveiling of three prototype vehicles that operate on batteries. These include the Model C SUV and the Model E sedan, both of which boast remarkable characteristics like race-car performance and a range of 750 kilometers. The business also presented a Model T bus with a range of 400 kilometers and a peak speed of 120 kilometers per hour on a single charge.
The business has stated that rather than selling under its own name, it intends to construct for automobile clients. “We’re no longer the new kid on the block,” says the narrator “Chairman of Foxconn’s main unit Hon Hai Precision Industry Co., Young Liu, stated. “We’ve progressively developed an electric vehicle supply chain and displayed our electric vehicle hardware.
The business has already signed agreements with Fisker, a US-based electric vehicle manufacturer, and PTT PCL, a Thai energy provider. To produce electric automobiles, the firm has purchased a manufacturing plant in the United States that was formerly held by Tesla’s rival Lordstown Motors. It purchased a semiconductor factory in Taiwan in August to meet future demand for automotive chips.
In May of this year, Foxconn and the Stellantis Group, which comprises carmakers such as Jeep, Citroen, and others, announced intentions to form a joint venture to offer in-car and connected-car technology.