Foxconn, the Taiwanese company renowned for manufacturing Apple’s iPhones, unveiled two new electric vehicles at an event in Taipei, marking a significant expansion into the automotive sector. The company, officially known as Hon Hai Technology Group, aims to replicate its success in smartphones by contributing to the electric car market.
Chairman Liu Young-way outlined Foxconn’s ambitious goal to manufacture 5% of the world’s electric cars by 2025, with aspirations to eventually capture a market share similar to its dominance in computer and smartphone manufacturing, which stands between 40% to 45%.
Unlike its approach with smartphones, Foxconn does not intend to market cars under its own brand name. Instead, it plans to operate similarly to Magna Steyr in Europe, which manufactures vehicles for automakers like Mercedes, BMW, and Jaguar. The recently unveiled vehicles are designed to showcase Foxconn’s advanced development and manufacturing capabilities.
In the United States, Foxconn has entered the electric vehicle market by repurposing a factory in Lordstown, Ohio, formerly owned by General Motors for small car production. After acquiring the facility from Lordstown Motors earlier this year, Foxconn agreed to manufacture the Endurance electric pickup truck for Lordstown Motors. Production commenced on September 29, with deliveries expected to begin later this year.
Foxconn has entered agreements with Fisker Inc. and Indi EV to manufacture their respective vehicles, the Pear and the Indi One, at its Lordstown facility. Additionally, Foxconn plans to produce an electric farm tractor, the Monarch MK-V, at the same site.
The extent of Foxconn’s own engineering involvement in these vehicles remains unclear. Fisker Inc. suggested that while the Pear may incorporate some Foxconn components or software, it primarily reflects CEO Henrik Fisker’s design. Conversely, the Lordstown Endurance pickup contains no Foxconn components currently, but the companies have committed to collaborating on future vehicles based on Foxconn’s engineering.
In Taiwan, Foxconn is preparing to launch its own electric vehicle, the Model C, branded as the Luxgen N7, with deliveries slated to begin in the latter half of next year. This initiative stems from a joint venture called Foxtron, established in 2021 between Foxconn and Luxgen’s parent company, Yulon Group, for EV development and production.
The Model C is described as a seven-seat crossover SUV, while the recently revealed Model B city car, designed by Italy’s Pininfarina, is a smaller counterpart to the Model C. Pininfarina, renowned for its work with Ferrari and other EV manufacturers like VinFast, also designed Foxconn’s Model E sedan prototype, unveiled last year.
Foxconn showcased additional electric vehicle innovations at the Taipei event, including the Model V, Taiwan’s first electric four-wheel-drive pickup truck. This vehicle boasts a one-ton cargo capacity and a towing capability of up to three tons.
Part of the larger MIH (Mobility in Harmony) consortium, various Foxconn entities are collaborating on an electric vehicle engineering platform. This initiative aims to standardize and advance the development of Foxconn’s electric vehicle lineup. Foxconn is also making strides in solid-state battery technology for electric cars, which promises enhanced range and reduced weight, reflecting ongoing efforts in the EV industry.
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