Foxconn aims to manufacture EVs in Europe, India and Latin America

File Photo: Foxtron Model E Electric Vehicle (EV) was unveiled at the Foxconn event in Taipei, Taiwan on October 18, 2021. REUTERS / Fabian Hamacher

October 20, 2021

Taipei (Reuters)-Taiwan’s high-tech giant Foxcon is considering making electric vehicles (EVs) in Europe, India and Latin America, including “indirect” cooperation with German automakers, Liu Young said. Wei said Wednesday.

Foxconn, officially known as Hon Hai Precision Industry Co Ltd, aims to become a major player in the global EV market and has contracts with US startup Fisker Inc and Thai energy group PTTPCL. ..

Liu, who told reporters at the Taipei Business Forum after announcing three EV prototypes on Monday, said he could not provide details of plans for Europe, India and Latin America due to disclosure restrictions.

“Europe will be a little faster, I agree with that, but where I can’t tell you,” he said.

Asked if he would work with a German car company, he said “indirectly” that the timelines were first in Europe, then in India and Latin America, and Mexico was “very possible”. Added.

Mr. Liu previously mentioned Mexico as a potential EV production base.

He said he plans to use the build, operations, and localization that Foxconn calls the BOL model. Invest with partners to build and operate local factories and sell to local consumers.

In May, Foxconn and automaker Stellantis plan to set up a joint venture to supply -18 announced. Automotive and connected car technology across the automotive industry.

This month Foxconn purchased a factory to manufacture electric vehicles from US startup Lordstown Motors Corp. In August, we acquired a chip factory in Taiwan to supply future demand for autochips.

Foxconn, the best-known manufacturer of iPhones for Apple Inc, has set a goal of providing components or services to 10% of the world’s EVs between 2025 and 2027. It aims to diversify revenue sources from contracted electronics manufacturers.

Liu said earlier in the same forum that Taiwan had a natural advantage in EV manufacturing due to its existing strengths in software and semiconductors.

“These are the advantages and strengths that Taiwan has cultivated over the years.”

(Report by Ben Blanchard, edited by Christopher Cushing, Sam Holmes, Kim Coghill)

Foxconn aims to manufacture EVs in Europe, India and Latin America

Source link Foxconn aims to manufacture EVs in Europe, India and Latin America

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