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HomeEconomyBusinessFoxconn plans to make electric cars in India

Foxconn plans to make electric cars in India

Taiwanese Foxconn, the largest assembler of iPhones, makes a foray into the electric vehicle business with three concept vehicles run on battery

Taiwan-based tech company Foxconn, which has announced its entry into the electric vehicle space, is looking forward to come to India to manufacture its EVs. Liu Young-way, Chairman of Foxconn, revealed his company’s global manufacturing plans days after unveiling its first three concept electric vehicles.

Liu said that Foxconn is open to manufacture its electric vehicles in countries like India, Brazil and other European nations.

However, he said that detailed plan of Foxconn coming to India or Brazil cannot be disclosed at the moment due to ‘disclosure restrictions’. Liu said, “Europe will be a bit faster, I agree with that. But as to where, I can’t tell you.” He also said that Foxconn is also ready to ‘indirectly’ cooperate with German carmakers.

Foxconn, the largest assembler of iPhones in the world, made its foray into the electric vehicle business on 18 October by unveiling as many as three concept vehicles which run on battery. These include the Model C SUV and the Model E sedan with impressive features like race-car level acceleration and a 750 km of range. The company also unveiled a Model T bus which promises a range of 400 km on single charge and a top speed of 120 km/h.

The company says that it plans to build for automotive customers rather than sell to customers under its own brand. “We are no longer the new kid in town,” said Young Liu, Chairman of Foxconn’s flagship unit Hon Hai Precision Industry Co. “We have gradually built an EV supply chain and showcased our EV hardware.”

The company has already struck a deal with US-based startup Fisker, which is an electric vehicle manufacturer, and Thailand’s energy group PTT PCL. The company also bought a manufacturing facility in US, which was earlier owned by Tesla rival Lordstown Motors, to make electric cars. In August it bought a chip plant in Taiwan in a move to supply future demand for auto chips.

Foxconn and Stellantis Group, which includes carmakers like Jeep, Citroen and others, had announced their plans in May this year to set up a joint venture to supply in-car and connected-car technologies.

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