Taiwan’s Foxconn Aims To Make Cars For Tesla One Day

Foxconn Technology Group, the Taiwan-based electronics company known for manufacturing iPhones, on Tuesday unveiled prototypes of two new electric vehicles in Taipei: the Model B crossover and the Model V pickup.

The two prototypes are the fourth and fifth models coming from the world’s largest contract electronics manufacturer since it announced its entry into EV production in 2020. In 2021 it unveiled a sedan, an SUV, and a bus.

“After we announced our plans to build EVs in 2020, many people questioned whether Foxconn can build cars,” said chairman Young Liu. “Then when we unveiled three models a year later, everyone thought, ‘Wow, how did they manage to develop three models in just a year?’ That’s the speed we’re operating at.”

The company is involved in 40-45% of the global information and communications technology market, particularly in personal computers and mobile phones. It hopes to replicate what it does for the ICT market in the EV market and build cars from the ground up. This is to say that the goal for these prototype releases isn’t to build their own brand but to show big-name EV companies what Foxconn can do for them.

“Foxconn is not in the business of selling its own EV brand,” Liu pointed out. “I hope one day we can do Tesla cars for Tesla,” he added.

Foxconn currently has a joint venture with Taiwanese carmaker Yulon, for which they’ve started mass production of an EV. The company is also producing an electric pick-up for Ohio-based startup Lordstown Motors.

They have also partnered with the European-American carmaker group Stellantis, together they will develop smark cockpit solutions for EVs. They also plan to develop auto chips under the partnership.


Information for this briefing was found via CNBC and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Tesla Cuts Prices in Europe as Rival Automakers Gain More Investor Attention

It appears that Tesla’s charm is beginning to wear off, as the EV trading buzz...

Sunday, January 24, 2021, 12:37:00 PM

Ford, GM Electric Vehicle Models Under Scrutiny After Fires Erupted During Recharging

As the attention surrounding zero-emission modes of transportation has been heating up, so have the...

Saturday, October 17, 2020, 03:53:00 PM

NIO Inc: The Tesla Of China?

The Deep Dive look at emerging zero emission vehicle (ZEV) startups continues today with Nio...

Saturday, November 14, 2020, 08:30:00 AM

Toyota Claims EV Battery Breakthrough: 10-Minute Charge For 1,200km

Toyota, the world’s second-largest carmaker, has announced a significant technological breakthrough in battery development that...

Wednesday, July 5, 2023, 02:15:00 PM

Tritium To Go Public Via Arrangement With DCRN

Tritium this morning announced that it has signed a definitive agreement with Decarbonization Plus Acquisition...

Wednesday, May 26, 2021, 08:39:40 AM