E-car models presented – supplier Foxconn enters business

Taiwanese Apple supplier
Electronics giant Foxconn enters the production of electric cars

Foxconn presented three electric cars

© AFP

Electronics giant Foxconn is actually a supplier of electrical goods like Apple’s. Now the Taiwanese company is entering the booming market for electric cars. It presented three electric car models.

On Monday, electronics giant Foxconn presented three electric cars at the company’s headquarters: a sedan, a sporty off-road vehicle (SUV) and a bus. Foxconn founder Terry Gou personally drove up the “Model E” sedan.

The Taiwanese electronics giant Foxconn is, among other things, the world’s largest supplier to manufacturers of smartphones such as Apple. Foxconn founded a joint venture with the Taiwanese manufacturer Yulon Motor to produce electric cars and recently bought a car plant in the US state of Ohio from the US startup Lordstown Motors for $ 230 million.

The “Model C” SUV is expected to hit the market in Taiwan in early 2023 and will cost less than one million Taiwan dollars (30,000 euros). The “Model T” bus could be used in the city of Kaohsiung in the south of the country as early as the beginning of next year if the Ministry of Transport approves it, said Vice Prime Minister Shen Jong Chin. The names of the vehicles are reminiscent of those of the US manufacturer Tesla: The sedan is called “Model S”, the vehicle intended for the mass market is called “Model 3”.

Foxconn invests billions in electric car production

Foxconn says it has invested around ten billion Taiwan dollars in the development of electric cars in 2020 alone. Investments would increase in the next two years. Group President Young Liu said at the presentation that Foxconn had “gradually” built up a supply chain and distribution network.


Taiwanese Apple supplier: Electronics giant Foxconn enters the production of electric cars

One of the youngest partners is the US electric car manufacturer Fisker; Foxconn and Fisker announced that they will jointly develop cars, with production scheduled to begin in late 2023. There have been reports for years that Apple wanted to develop an electric car – Foxconn would be an ideal partner for this.

The automotive industry worldwide is currently suffering from an acute shortage of semiconductors. Taiwan is home to some of the largest and most advanced chip factories in the world.

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