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Apple iPhone maker aims to manufacture electric vehicles in India

On Wednesday, Liu Young-way, Chairman of Taiwanese electronics giant Foxconn, said that the company is considering producing electric vehicles (EVs) in Europe, India, and Latin America and “indirectly” partnering with German automakers.

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, aspires to become a key player in the global electric vehicle market and has signed agreements with Fisker Inc of the United States and PTT PCL of Thailand.

After introducing three electric vehicle prototypes on Monday, Liu told reporters at a business forum in Taipei that he couldn’t reveal any details about their plans for Europe, India, and Latin America due to “disclosure restrictions.”

“Europe will be a bit faster, I agree with that. But as to where, I can’t tell you,” he said.

When asked if they would work with German automakers, he answered “indirectly,” adding that Europe would come first, followed by India and Latin America, with Mexico being “very possible.”

In May, Foxconn and carmaker Stellantis announced that they would form a joint venture to deliver in-car and connected-car technologies to the whole automotive industry.

This month, Foxconn purchased a facility in the United States from Lordstown Motors Corp to manufacture electric vehicles. It purchased a semiconductor facility in Taiwan in August to meet future demand for auto chips.

Foxconn, which is best known for making iPhones for Apple Inc, has set a goal of providing components or services for 10% of the world’s electric vehicles by 2025-2027.

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BRL Editorhttps://businessreviewlive.com
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