Taiwan Foxconn to Move Beyond iPhones and Manufacture Electric Cars

Ryu Yangwei Chairman "I Want to Make Tesla Electric Cars"
Electric Pickup Truck 'Model V'
Sports Crossover Hatchback 'Model B' Prototype Unveiled

On the 18th, at Foxconn's new electric vehicle launch event held in Taipei, Taiwan, Chairman Liu Yangwei is introducing the new electric vehicle Model B. Photo by Taipei EPA Yonhap News

[Asia Economy Culture Young Intern Reporter] Taiwan's Foxconn, Apple's largest partner, has expressed a strong commitment to the electric vehicle market by stating its desire to produce Tesla's electric cars.

According to reports from Liberty Times and others on the 19th, Hon Hai Precision Industry Chairman Liu Yangwei (劉揚偉) said at the 'Hon Hai Science and Technology Day' event the day before, "We are currently continuously promoting the deployment of production facilities in Taiwan, Thailand, and the United States." He added, "We are currently negotiating with local authorities in India and Indonesia to establish an electric vehicle ecosystem."

At the company's annual internal technology event that day, Foxconn unveiled prototypes of the electric pickup truck 'Model V' and the sports crossover hatchback 'Model B.' However, it is known to prefer designing and contract manufacturing vehicles for other companies rather than selling electric cars under its own brand.

Regarding this, Chairman Liu stated, "Foxconn has mainly focused on contract manufacturing of electronic products such as mobile phones, but going forward, we want to play the role of a global electric vehicle factory," and added, "Someday, Foxconn would like to make Tesla electric cars as well."

So far, Foxconn has supplied 40-45% of the global information and communication market, including mobile phones and PCs, by contract manufacturing Apple iPhones. Chairman Liu revealed that by the year after next, the annual production capacity of electric vehicles in Thailand will reach 150,000 to 200,000 units, and the annual production scale at the Ohio plant in the United States will reach 600,000 units.

He also added that the company plans to increase its market share in the electric vehicle sector to 5% by 2025. If that happens, sales are expected to reach 1 trillion Taiwan dollars (approximately 44 trillion Korean won), and the parts market share of its own electric vehicle manufacturing support platform (MIH) consortium is predicted to reach 50%.

On the 18th, Liu Yangwei, Chairman of Taiwan's Foxconn, is seen speaking at an electric vehicle launch event held in Taipei. Photo by Taipei EPA Yonhap News

Earlier, in 2020, Foxconn declared its entry into the electric vehicle business as part of business diversification. In August last year, it introduced three electric vehicle models of its own, and at the end of last year, it acquired the Ohio automobile factory and the American electric pickup truck startup Rosetown Motors, which was on the verge of closure.

Additionally, Foxconn is promoting the construction of electric vehicle and battery cell production plants in Indonesia together with Taiwanese electric scooter manufacturer Gogoro. Foxconn stated that it aims to supply 3 million electric vehicles annually by 2027.

Chairman Liu said that the company plans to enter the contract design and manufacturing service industry in the electric vehicle field over the next 10 years and will also provide platform services integrating semiconductors and software in the future.

Meanwhile, Foxconn founder Guo Taiming (郭台銘) emphasized that the electric vehicle sector is very important for Taiwan's future development beyond semiconductors and is an industry with very high growth prospects. Taiwanese media reported that Taiwan's Foxconn is highly likely to use a low-orbit satellite weighing 12kg, developed by its own researchers, for vehicle-to-everything communication services.

This content was produced with the assistance of AI translation services.