Young Liu, chairman of Foxconn Technology Group, speaks in front of a Model C electrical lorry throughout an occasion in Taipei, Taiwan, on Tuesday,Oct 18,2022 Liu stated he hopes one day that Foxconn can make cars and trucks for Tesla.
I-Hwa Cheng|Bloomberg|Getty Images
Foxconn, the most significant assembler of Apple’s iPhones, wishes to one day develop cars and trucks for Tesla, the business’s CEO stated, as it presses even more into electrical lorry production.
Hon Hai Technology Group, Foxconn’s main name, released 2 electrical lorry models on Tuesday– the Model V pickup and Model B sports crossover hatchback.
But Foxconn does not wish to offer its own-brand cars and trucks. Instead it wishes to create and produce automobiles for other car manufacturers. The business declares that it can cut the style time of a cars and truck in half and decrease the advancement expense by a 3rd for a car manufacturer wishing to utilize its services.
The Taiwanese company has huge aspirations. Young Liu, CEO and chairman of Foxconn, stated on Tuesday that the business is targeting 5% market share internationally of electrical lorry production by 2025, including that he hopes Tesla will be a client.
“I hope one day we can do Tesla cars for Tesla,” Liu stated.
Tesla presently makes its own cars and trucks at its factories around the globe– in its U.S. places and in Berlin and Shanghai.
Elon Musk’s Tesla was not right away offered for remark when called by CNBC.
Over the previous 2 years, Foxconn has actually been increase its electrical lorry organization.
Last year, the business revealed 3 model cars and trucks. Two of those are presently on the roadways. The Model T electrical bus becomes part of the general public transport system in Taiwan and the Model C is a production lorry branded as the Luxgen n7 by Taiwanese car manufacturer Yulon Motor.
Liu stated he desires Foxconn’s clients to offer “a lot of EVs.”
Foxconn has actually developed its organization over the last couple of years in customer electronic devices producing and assembly. But the business is now attempting to diversify into brand-new locations, with electrical cars and trucks an essential focus.
The 5 idea cars and trucks reveal that Foxconn “can design and build EVs that are good-looking and can stand up to safety,” Liu stated.
Part of its existing method is to flaunt its abilities in the electrical lorry area at a time when lots of business, in specific companies that have actually not typically remained in the automobile area, are delving into the marketplace.
In China for instance, mobile phone maker Xiaomi and web company Baidu, have actually released electrical automobile business with a goal to standardize automobiles.
Foxconn might be a choice for business wanting to release electrical automobile endeavors without the requirement to sink substantial financial investments into own style and production endeavors.
