IPHONE ASSEMBLY FACTORY NOW BECOMES ELECTRIC VEHICLE MANUFACTURER
Hon Hai Technology Group, also known as Foxconn, shows off its three future EV models.
Taiwanese technology company Foxconn presents three electric vehicle (EV) products. The company, known as the maker of Apple products, is showing its ambition to become a significant player in the rapidly growing EV market in the future.
Foxconn is showing these three products to look for investors who are interested in collaborating. Under the brand Foxtron, this is a step to diversify the company that sees the potential for rapid EV development.
There are three models introduced, namely sedan, SUV, and electric bus. All three represent the market that is currently in demand.
The name of the SUV product offered is Model C. Foxconn revealed this is an electric SUV product that can accommodate seven passengers. Dimensions have a length of 4,640 mm with a wheelbase length of 2,860 mm. This SUV is claimed to be able to move quickly in urban areas by prioritizing cabin size. Its power is about 139 hp with a 58 kWh battery that can accelerate from 0 to 100 km per hour in 3.8 seconds and range up to 595 kilometers.
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The Foxconn sedan, called the Model E, was designed by the design house Pininfarina. This model comes with advanced technology, including face recognition and smart windows, and targets the premium car market.
This sedan uses a battery with a capacity of 96 kWh range of up to 713 kilometers. Two motor units are used to drive it; the front motor is 201 hp while the rear motor is 536 hp with a total power of about 700 hp. This sedan can accelerate from rest to 100 km per hour in 2.8 seconds.
The Model T is an electric bus with a range of about 397 kilometers with a maximum speed of 120 km per hour.
Foxconn said the electric vehicle business would have a value of around 25 billion euros in the next five years. The Model C will be introduced under a Taiwanese brand called Yulon in 2023. The Model E is being offered for sale under another brand for the future.
Foxconn has signed partnerships with several electric car makers over the past year. One of them is an EV maker from the United States, Fisker, jointly developing an electric vehicle. Foxconn also creates chassis and software platforms for their EV products.
Rumour has it, the latest product of this electric vehicle has also attracted its partner's interest in the gadget world, Apple. The US company had previously approached Hyundai and KIA. Still, that approach has reportedly ended and gives Foxconn a chance to grab Apple's attention.
Regarding investment, Foxconn is rumored to have spent $355 million to develop electric cars in 2020. Reportedly they will increase their investment in the next two years.
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The launch of the Foxconn EV model comes as the auto world faces a global shortage of semiconductor supplies after the pandemic sent electronics and computer parts skyrocketing. Taiwan is known as the largest chip-producing country globally and had experienced the crisis some time ago.
Foxconn has targeted producing electric vehicles in several regions such as Europe, India, and Latin America. This includes collaborating with German carmakers for better partnerships.
Foxconn, the official name Hon Hai PrecisionIndustri Co Ltd, is also working with the Thai energy group PTT PCL.
In addition to the Fisker announced above, Foxconn is also collaborating with car manufacturer Stellantis. The two companies set up a joint venture to supply in-car technology and connect across the automotive industry.
Another step taken in America is to buy a startup factory Lordstown Motors Corp. to become an electric factory. Also, last August, they bought a chip factory in Taiwan to supply future demand for EV chips. The company's goal is to provide components or services for 10 percent of the world's EVs between 2025 and 2027.
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