From the world’s leading electronics subcontractor to electric vehicle assembler, is there only one step? Foxconn believes in it. The Taiwanese company Hon Hai Precision Industry (its official name) is seeking diversification. The group with 3.9 billion euros in net profit in 2023 is interested in semiconductors, robotics, but also and above all in the mobility sector.
The famous iPhone assemblerApple wishes to apply the recipe applied in consumer electronics to the automobile industry. Objective: to become essential in the design and manufacturing of vehicles.
Since 2021, he has gone all out by multiplying prototypes and founded a dedicated subsidiary, Foxtron, in partnership with the Taiwanese automobile manufacturer Yulon. The firm has developed its own platform and presented six prototypes.
It says it has launched production of several vehicles, including the Model C SUV in November 2023. At the start of the year, its Model B was exhibited on the stand of Italian designer Pininfarina at the Geneva motor show.
The group is increasing its partnerships with renowned companies: Nvidia and Stellantis in semiconductors or Nidec for motors. Foxconn is even considering getting into battery production. Foxtron has a production site in Taiwan, while Foxconn bought a former American GM factory in Lordstown (Ohio) and in July began construction of a pilot plant in the Chinese city of Zhengzhou ( Henan province).
Source: www.usinenouvelle.com
