Foxconn has made significant progress in its effort to enter the automotive industry. On July 24, Hon Hai Precision Industry’s subsidiary Foxconn Technology Group announced that it has forged a strategic partnership with the government of Henan province through a cooperative agreement.
Foxconn is set to establish pilot production lines for electric vehicles and solid-state batteries beneath the Zhangzhou Airport Economic Comprehensive Pilot Zone, fostering innovation in the region. The Electric Vehicle (EV) trial manufacturing middle intends to build a cutting-edge, premium demonstration production facility for the latest electric vehicles.
Foxconn, better known as the manufacturer of iPhones, is now also seeking to capitalize on the electric vehicle (EV) market by pursuing contract manufacturing opportunities. Our goal is to establish a premier global lighthouse production facility that serves top-tier automotive companies in both domestic and international markets.
Foxconn is investing a complete of round 1 billion yuan (138 million USD), and the development space in Zhengdong New District can be about 700 acres and encompass seven facilities together with a enterprise headquarters, R&D middle, and engineering middle, industrial analysis institute, advertising and marketing middle, and provide chain administration middle.
Foxconn’s desire to venture into electric vehicle manufacturing has been publicly acknowledged in recent times. Foxconn’s involvement with Tesla began as far back as 2010, initially providing key components like the central management display screen to the electric car manufacturer. This move marked a significant foray by the corporation into the automotive supply chain industry.
Despite showcasing a range of cars in recent years, Foxconn has yet to put any into production. Here are the electric vehicle models from Tesla: the Model T bus, Model V pickup truck, Model C SUV, Model E sedan, and Model B hatchback. The corporation boasts a pioneering electric vehicle (EV) platform, distinguished by innovative technologies such as x-by-wire, where electrical connections supersede traditional mechanical links to govern steering, acceleration, and braking.
A tripartite alliance between Taiwanese automotive conglomerate Yulon Auto Group and Hon Hai Precision Industry, better known as Foxconn, is purportedly targeting a North America entry for its Mannequin C sport utility vehicle (SUV) by 2025 through the Foxtron joint venture. As the guardian group for the Luxgen brand, Yulon oversaw its operations before it entered into a tripartite alliance with Dongfeng in China.
Foxconn has acquired the former General Motors-owned Lordstown automobile manufacturing facility in Ohio, USA, a significant expansion of its footprint in the North American market.
Foxconn established a new energy vehicle (NEV) company in Henan province, China, in January 2024, with a registered capital of 500 million yuan, approximately equivalent to $69 million. Apple’s corporate presence in Zhengzhou is not new, as the city has long been home to its massive iPhone production facility, the world’s largest.
Editor’s word:
Foxconn has enjoyed unparalleled success within the electronics industry through its innovative contract manufacturing model. The corporation is attempting to duplicate its success in the electric vehicle market. Despite the corporation’s limited comprehension in this area, it may be challenging to become a significant player. While contract manufacturing has traditionally been less prevalent in China compared to other regions, it appears to be gaining momentum within the country, exemplified by recent collaborations such as Nio’s partnership with JAC and Xiaomi’s tie-up with BAIC.
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