- Contract electronics manufacturer Foxconn already builds 40% of the world's consumer electronics, including things like the Apple iPhone and Microsoft Xbox.
- Now, it wants to get into the EV game, with a host of software-defined electric cars planned for launch.
- The company is aggressively pursuing partnerships with companies like Honda, Mitubishi and Nissan to make its plan work.
If you've heard of Foxconn, it's probably because of the iPhone. Officially known as Hon Hai Technology Group, the Taiwan-based firm is the world's largest electronics manufacturer, building everything from Apple's ubiquitous smartphone to Amazon Kindles and Nintendo Switches. Now, it wants to sell you an electric vehicle.
We already knew the company was eyeing an EV play; frankly, Foxconn has wanted to do that for years now. But at a recent press conference with automakers attended by Automotive News, the brand laid out its vision for a full line of EVs, with some sold in the U.S. Production will start in Taiwan, but the goal is to eventually set up U.S. manufacturing, Foxconn executive Jun Seki told the group.
Local production will be important. Though headquartered in Taiwan, Foxconn is best known for its giant manufacturing footprint in mainland China. While Taiwan receives support from the U.S. and is closely linked to it economically, Washington and other governments have tried to choke the spread of Chinese EVs into the global market.
Products will include a midsize crossover, a compact crossover, two vans and a midsize sedan, Automotive News reports. The crossovers are slated to come to the U.S. A key part of Foxconn's plan will be working with partners as a contract manufacturer, as it does in the electronics business. But Foxconn here seems set to design and build the products, then offer them as pre-made, ready-to-sell vehicles for interested manufacturers.
Currently, one brand is at the top of its list. Foxconn has been pursuing Nissan aggressively. Though it does not plan to acquire the company, it sees the brand as a key part of its push into the automotive space. Nikkei has also reported that Foxconn is trying to win Honda's business, while Seki confirmed it is already working with Mitsubishi. The company offered no specifics on what that partnership looks like.
Clearly, then, Foxconn sees opportunity in chasing Japanese companies with strong traditional footprints but limited success in the EV market. The firm is planning to build ground-up, software-defined EVs, the kind that are made by Tesla, Rivian and a host of Chinese firms.
And because Foxconn is deeply rooted in China—it's one of the largest private employers there—but not actually Chinese, it may be a natural conduit to bring Chinese-level EV innovation to markets that are closing the door on actual Chinese EVs.
I'd ask you if you'd trust a Foxconn product, but with 40% of the world's consumer electronics manufactured by the leviathan, chances are you already have one in your pocket.
Contact the author: Mack.Hogan@insideevs.com.
