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Apple assembler Foxconn aims to supply to about 3 million EVs by 2027

Apple assembler Foxconn aims to supply to about 3 million EVs by 2027

10/16/2020 11:35:00 AM

Apple assembler Foxconn aims to supply to about 3 million EVs by 2027

Foxconn aims to provide components or services to 10% of the world's electric vehicles (EVs) by between 2025 and 2027, and has been in talks with multiple car manufacturers for future cooperation, Chairman Liu Young-way said on Friday.

aims to provide components or services to 10% of the world's electric vehicles (EVs) by between 2025 and 2027, and has been in talks with multiple car manufacturers for future cooperation, Chairman Liu Young-way said on Friday.FILE PHOTO: A person riding a scooter wears a mask amid the outbreak of the coronavirus disease (COVID-19), while passing a Foxconn office building in Taipei, Taiwan, July 14, 2020. REUTERS/Ann Wang

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The Taiwanese contract manufacturer, formally called Hon Hai Precision Industry Co Ltd and a major supplier to Apple Inc, is looking at growth from sectors such as EVs, digital health and robots in a drive to diversify its global investments.“We want to push Taiwan’s EV industry to the world,” Liu said in Taipei.

In January, automaker Fiat ChryslerFCHA.MIsaid it has plans for a joint venture with Foxconn to build electric cars and develop 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,” he said, referring to Foxconn’s pledge to build an “open platform” to make key EV components including battery and car-internet services to automobile makers.

Foxconn will work with multiple auto makers to reach the goal of 10% global EVs, Liu added, representing around three million vehicles.Liu, however, declined to provide a revenue target for the EV business or details citing “ongoing talks”.Foxconn is planning to launch its solid-state battery for EVs in 2024, which is a high-capacity energy storage device that improves on current batteries.

Foxconn’s Taipei-listed shares closed up 0.6% on Friday, outperforming the broad market, which ended 0.6% weaker.Liu has said earlier this year that Foxconn was working to build supply chains in China and the United States, amid a years-long drive to diversify its investments around the world.

Reporting by Yimou Lee; Writing by Ben Blanchard; Editing by Tom Hogue and Sherry Jacob-Phillips Read more: Reuters Top News »

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Huawei is a security risk because its a Chinese company. But it's OK for the Chinese to manufacture Apple products. I don't get it. Not sure why Apple needs to be linked to this? Foxconn do work for a huge number of companies. If you have any electronic devices, chances are Foxconn played a part in their manufacture.

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Apple iPhone maker Foxconn wants to become the Android for electric cars with new vehicle platform Foxconn , the Taiwan company that assembles Apple's iPhone, has launched an platform to help automobile companies make electric cars. nice

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