The Taiwanese multinational electronics contract manufacturer Foxconn targets to supply 10 percent of the world’s electric vehicles (EV) components or services between 2025 and 2027 and has been in talks with multiple carmakers for a future alliance.
The Apple suppliers, formally called Hon Hai Precision Industry, are currently planning to expand their global investments and expects its growth from sectors like EVs, digital health and robots. “We want to push Taiwan’s EV industry to the world, ”Liu Young, Foxconn’s Chairman said in Taipei.
Early this year, Fiat Chrysler, one of the largest automakers in the world, announced that it has plans to partner with Foxconn to build electric cars and to invent Internet-connected vehicles in China.
“Hon Hai has to ready our open platform as soon as possible. We need to move fast to grab market share,” Liu said, referring to Foxconn’s announcement to create an “open platform” to make key EV components including battery and car-Internet services available to automobile makers.
The electronic supplier company aims to control 10 percent supply of the global EV market by working with multiple automakers and expect to represent around three million vehicles, Liu added.
Even though the chairman declined to disclose their revenue target for the EV business or details regarding the ongoing discussions, he cleared that the manufacturers are planning to launch its solid-state battery for EVs in 2024.
Last day, Foxconn’s Taipei-listed shares closed up 0.6 percent outperforming the broad market, which ended 0.6 percent weaker.
Foxconn had announced earlier that they were planning to create a supply chain in China and the United States, as part of its years-long mission to diversify its investments around the globe.
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