Foxconn officially launched electric cars, the future of mass car production like the iPhone is not far away

Foxconn does not directly sell electric cars, they will become assembly and production partners for car manufacturers.

Foxconn officially launched electric cars, the future of mass car production like the iPhone is not far away
Foxconn officially launched electric cars, the future of mass car production like the iPhone is not far away

According to Bloomberg, Foxconn Technology has just launched its first electric car model. This is a memorable milestone that helps the name Foxconn become the most serious and potential contractor for Apple's secret electric car project.

The SUVs and sedans introduced on Monday are models that the Taiwanese manufacturer plans to build for car manufacturer customers instead of selling under its own brand. Company leaders including Young Liu – Chairman of Hon Hai Precision unveiled these models at the company's Technology Day.

Foxconn is the largest iPhone assembler. They are looking to take advantage of being an Apple partner to take the lead, accepting the opportunity to continue to become a partner of the US company when they are rumored to launch Apple Car. As part of that effort, in late September Foxconn agreed to spend $280 million to buy an auto plant in Ohio from a startup called Lordstown Motors.

"We're no stranger to the company. We're gradually building an electric vehicle supply chain and showing off our electric vehicle."

Right at the event, Lilian Chen - President of Yulon Motor revealed that they will become Foxconn's first electric vehicle customer.

Yulon sedans will be assembled by Foxconn and will retail for $35,700. Foxconn will also launch electric buses – and will deliver them to local transport providers next year.

Foxconn is one of the companies targeting electric vehicles as a new source of growth beyond electronics assembly. The agreement to buy the factory in Ohio is an important factor for Foxconn, helping it to expand its assembly capacity, equipment and personnel. The company has also now decided on the location of the factory in Europe.

Becoming an Apple Car assembly partner is expected to be a worthy reward for the electric car manufacturer. Foxconn has a close relationship with Apple. The multi-year partnership has expanded as Apple adds new products, and the company now accounts for 50% of Foxconn's annual revenue.

Regardless, Apple Car plans have yet to be revealed, and the company is having a hard time recently when the president of the automotive project recently left the job to Ford.

For its part, Foxconn has yet to sell any electric cars after launching its electric vehicle platform last year. However, they do plan to mass produce Lordstown's Endurance in Ohio and April.

Meanwhile, automakers such as Tesla, Volkswagen and Hyundai have launched their own electric vehicles and spent billions of dollars on product development and capacity building.

However, Foxconn still has a few advantages. They have a production deal with Fisker and a partnership with Thailand's PTT.

Google Tech News - Bloomberg

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