Younger Liu, chairman of Foxconn Expertise Group, speaks in entrance of a Mannequin C electrical automobile throughout an occasion in Taipei, Taiwan, on Tuesday, Oct. 18, 2022. Liu mentioned he hopes in the future that Foxconn could make vehicles for Tesla.
I-Hwa Cheng | Bloomberg | Getty Pictures
Foxconn, the largest assembler of Apple’s iPhones, desires to in the future construct vehicles for Tesla, the corporate’s CEO mentioned, because it pushes additional into electrical automobile manufacturing.
Hon Hai Expertise Group, Foxconn’s official identify, launched two electrical automobile prototypes on Tuesday — the Mannequin V pickup truck and Mannequin B sports activities crossover hatchback.
However Foxconn does not wish to promote its own-brand vehicles. As a substitute it desires to design and manufacture vehicles for other automakers. The corporate claims that it may lower the design time of a automotive in half and scale back the event value by a 3rd for an automaker wanting to make use of its providers.
The Taiwanese agency has massive ambitions. Younger Liu, CEO and chairman of Foxconn, mentioned on Tuesday that the corporate is focusing on 5% market share globally of electrical automobile manufacturing by 2025, including that he hopes Tesla shall be a buyer.
“I hope in the future we are able to do Tesla vehicles for Tesla,” Liu mentioned.
Tesla at present manufactures its personal vehicles at its factories around the globe — in its U.S. places and in Berlin and Shanghai.
Elon Musk’s Tesla was not instantly obtainable for remark when contacted by CNBC.
Over the previous two years, Foxconn has been ramping up its electrical automobile enterprise.
Final 12 months, the corporate unveiled three prototype vehicles. Two of these are at present on the roads. The Mannequin T electrical bus is a part of the general public transportation system in Taiwan and the Mannequin C is a manufacturing automobile branded because the Luxgen n7 by Taiwanese automaker Yulon Motor.
Liu mentioned he desires Foxconn’s clients to promote “a whole lot of EVs.”
Foxconn has constructed its enterprise over the previous few a long time in shopper electronics manufacturing and meeting. However the firm is now making an attempt to diversify into new areas, with electrical vehicles a key focus.
The 5 idea vehicles present that Foxconn “can design and construct EVs which might be handsome and may stand as much as security,” Liu mentioned.
A part of its present technique is to indicate off its capabilities within the electrical automobile house at a time when many corporations, specifically companies that haven’t historically been within the auto house, are leaping into the market.
In China for instance, smartphone maker Xiaomi and web agency Baidu, have launched electric car companies with an goal to mass produce vehicles.
Foxconn might be an choice for corporations trying to launch electrical automotive ventures with out the necessity to sink enormous investments into personal design and manufacturing ventures.
