This Taiwanese iPhone manufacturer just launched three new EVs
Taiwanese tech giant and Apple partner Foxconn Technology Group has entered the electric vehicle market. It unveiled its first three prototype electric vehicles in Taipei, Taiwan on Monday. This underscores the company's ambitious plans to expand beyond manufacturing consumer electronics for Apple. It also indicates Foxconn could be involved in at least some stages of development of the Apple Car. Here are more details.
The chairman of Foxconn's flagship unit called Hon Hai Precision Industry Co. unveiled two vehicles at the company's Technology Day event. These were one SUV and one sedan model that Hon Hai will build for other automotive customers. The third vehicle was a concept bus. These concept vehicles were made by Foxtron, a joint venture of Foxconn and Taiwanese carmaker Yulon Motor Co. Ltd.
The event was timed to coincide with the birthday of Foxconn's billionaire founder Terry Gou. He drove the sedan on stage to the tune of "Happy Birthday." On the occasion, Hon Hai chairman Young Liu said, "We are no longer the new kid in town. We have gradually built an EV supply chain and showcased our EV hardware."
Foxconn's sedan was developed in collaboration with legendary Italian design firm Pininfarina. Reuters reported that it will be sold by an unspecified car manufacturer outside Taiwan in the coming years. A conflicting report from Bloomberg claimed that the sedan will be sold by Yulon in Taiwan. Liu said the car will retail for less than $35,700, the report added.
As for the bus, it will bear a Foxtron badge and be delivered to a local transportation provider in southern Taiwan next year. The SUV will be sold under Yulon branding and will be available for purchase in Taiwan in 2023. Foxconn is the world's largest iPhone assembler. This event gives it the advantage as Apple deliberates expanding into the segment with technology partners.
Foxconn's chances of collaborating for the Apple Car project are assisted by its internal target to provide components or services for 10% of the world's EVs by around 2025 and 2027. Foxconn also purchased a $280 million auto plant in Ohio and has a manufacturing deal with Fisker, a partnership with Thai conglomerate PTT PCL, and pacts with Zhejiang Geely Holding and Stellantis NV.