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Foxconn announces first electric vehicle prototype

Taipei — Foxconn Technology 2354 -2.97%

The group, the world’s largest contract electronics manufacturer, unveiled three electric vehicle models on Monday. This is one of the most aggressive iPhone assemblers to date in the EV industry.

The prototype is the first car designed by Foxconn in collaboration with a Taiwanese automaker. Rather than selling it as a Foxconn branded vehicle, the company said Foxconn will provide the basic vehicle structure and manufacture the car so that it will be sold under other car brands.

Taiwan-based Foxconn, officially known as Hon Hai Precision Industry Ltd

2317 -1.83%

Is deeply ingrained in the automotive industry as it seeks to diversify its business beyond Apple. Ltd

The best known product it makes. With plans to acquire a US car factory, it has partnered with an automaker to introduce an electric vehicle chassis that can be used in the design of electric vehicles.

“Hon Hai is ready and no longer a new child in town,” Young Liu said at an event on Monday.

The Foxconn-designed sedan can run up to about 470 miles on a single battery charge, the company said.


Photo:

I-Hwa Cheng / Bloomberg News

Foxconn’s EV prototype arrived because Apple is also considering producing its own car. Analysts say Foxconn’s existing relationship with Apple and its supply chain know-how could give it an edge in securing Apple’s automotive manufacturing business. Foxconn previously refused to comment on Apple’s car trading potential and didn’t mention it on Monday.

Foxconn exhibited electric sedans, SUVs and buses. The commercialized vehicle will be manufactured through a Foxconn joint venture with Yulon Automobile. Ltd

One of Taiwan’s largest automakers, best known for building Nissan car brand vehicle models under license.

Yulon Automobile said it was the first time to use Foxconn’s product platform to build a car under its brand. Foxconn has not yet announced other car clients for this vehicle.

The Foxconn-designed sedan can travel from 0 to 60 mph in 2.8 seconds and up to about 470 mph on a single battery charge, the company said.

Foxconn has already found a European car brand that sells sedans by that name in the coming years, according to people familiar with the matter.

For SUVs, Foxconn said its first client will sell the vehicle in 2023 with a price tag of less than $ 36,000. He added that the bus will operate in Taiwan next year.

Foxconn shouldn’t be content with manufacturing other brands and making small profits, Liu said.

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Over the past year, Foxconn has announced a series of partnerships and acquisitions. Recently, we have signed a contract to purchase a factory in Ohio from electric truck maker Lordstown Motors. Ltd

With the purchase, Foxconn will also manufacture Rosetown vehicles at facilities, including its debut pickup truck, Rosetown said.

Earlier this year, Foxconn announced that it would build more than 250,000 vehicles annually in the United States for Los Angeles-based EV startup Fisker. Ltd,

The Taiwanese company has also announced partnerships with other automakers, including Stellantis NV and Geely Holding Group of China.

Foxconn announced in August that it would purchase a chip factory in Taiwan to manufacture 6-inch wafers for automobiles for $ 91 million for small-scale production and R & D.

Write in Stephanie Yang at stephanie.yang@wsj.com and Yang Jie at jie.yang@wsj.com

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Foxconn announces first electric vehicle prototype

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