Foxtron Vice Chairman Tso Chi-sen told reporters that he hopes the electric car will be worth NT $ 1 trillion to Foxconn in five years. That’s about $ 35 billion.
Foxtron Vice Chairman Tso Chi-sen wants EVs to be worth NT $ 1 trillion in five years.
Foxconn of Taiwan unveiled prototypes of the first three electric vehicles on Monday, highlighting its ambitious plans to diversify from its role in building appliances for Apple Inc and other tech companies. Vehicles (SUVs, sedans, buses) were manufactured by Foxconn, a venture company between Foxconn and Taiwanese automaker Yulon Automobile. $ To Foxconn in 5 Years-A Number Equivalent to About $ 35 Billion.
Officially known as Hon Hai Precision Industry Co Ltd, the world’s largest contract manufacturer of electronics, while acknowledging that it is a beginner in the automotive industry, it aims to become a major player in the global EV market. We first mentioned EV ambitions in November 2019 and moved relatively quickly. This year, we announced an automobile manufacturing contract between US startup Fisker Inc and Thai energy group PTTPcl.
“Hon Hai is ready and no longer a new child in town,” said Liu Youngway, chairman of Foxconn. birthday”.
The sedan, co-developed with Italian design firm Pininfarina, will be sold by unspecified automakers outside Taiwan in the next few years, and the SUV will be sold under one of Yutaka’s brands and will be launched in Taiwan in 2023. is.
Buses with the Foxtron badge will start operating in several cities in southern Taiwan next year in partnership with local transportation service providers. “So far, Foxconn has made pretty good progress,” said Kylie Fan, a technical analyst at Daiwa Capital Markets.
Foxconn has also set a goal of providing components or services to 10% of the world’s EVs between 2025 and 2027. This month, I bought a factory that manufactures electric vehicles from US startup Lordstown Motors Corp. In August, we acquired a chip factory in Taiwan with the aim of meeting future demand for automotive chips.
Successful promotion of the automotive industry by contract assemblers can attract many new players and undermine the business model of traditional automotive companies. Chinese automaker Geely has announced plans to become a major consignment manufacturer again this year.
Industry watchers are closely watching clues as to which companies make Apple’s electric vehicles. Sources have previously said tech giants want to launch a car by 2024, but Apple hasn’t disclosed a specific plan.
(This story has not been edited by NDTV staff and is automatically generated from the syndicate feed.)
Follow carandbike.com for the latest car news and reviews. twitterSubscribe to the Facebook, and YouTube channels.
Foxconn is bullish on the outlook for electric cars unveiling three prototypes
Source link Foxconn is bullish on the outlook for electric cars unveiling three prototypes