Foxconn Aims To Supply To 10 Per Cent Of Global EVs: Report

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  • It is looking at growth from sectors like EVs, digital health and robots diversify its global investments
  • In January, Fiat Chrysler said that it has plans for a joint venture with Foxconn to build electric cars and develop internet-connected vehicles in China

As per a report by Reuters, Foxconn’s chairman Liu Young-way said that the company aims to provide components or services to 10 per cent of the world’s electric vehicles (EVs) by between 2025 and 2027, and has been in talks with multiple car manufacturers for future cooperation. The Taiwanese contract manufacturer, formally called Hon Hai Precision Industry Co Ltd and a major supplier to Apple Inc. It is looking at growth from sectors like EVs, digital health and robots diversify its global investments.

Ready their platform as soon as possible

The report said that Young-way said in Taipei that they want to push Taiwan’s EV industry to the world. In January, Fiat Chrysler said that it has plans for a joint venture with Foxconn to build electric cars and develop internet-connected vehicles in China.

The report added that Young-way said that Hon Hai has to ready their platform as soon as possible. It needs to move fast to grab market share. He added that Foxconn will work with multiple auto makers to reach the goal of 10 per cent global EVs. The report said that Young-way declined to provide a revenue target for the EV business or details citing “ongoing talks”.

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