Foxconn Stepping in EV Market with “Foxtron”
As part of its aim to become a significant player in the automotive business, iPhone assembler Foxconn has showcased three prototype electric vehicles. Under the new “Foxtron” label, the Taiwanese corporation unveiled an SUV called the Model C, a car called the Model E, and a bus called the Model T.
“Our biggest challenge is we don’t know how to make cars,”Young Liu, Chairman, Foxconn.
Foxconn is making bold claims about the platform’s capabilities. The Model E, according to Tesla, can travel 750 kilometres (466 miles) on a single charge and accelerate to 100 kilometres per hour in under three seconds. The Model C has a top speed of 700 km (435 miles) and is roughly a second slower than the Tesla Model S to 100 km. According to Foxconn, the bus has already been tested for hundreds of thousands of kilometres.
In a partnership with a local transportation service provider, the bus, which will have the Foxtron logo, will begin running in numerous places in southern Taiwan next year.
Foxconn has spent the better part of a year talking about its plans to become a major player in the automobile industry, as part of a strategy to diversify away from phones, laptops, and other consumer electronics. By 2025, Liu wants Foxconn’s technology to be found in 5% of all electric vehicles produced. Traditional top-tier suppliers like Magna are already building electric vehicles for other automakers, so it’ll be a crowded industry.
In addition to its own initiatives, Foxconn has partnered with (or invested in) a number of other automakers, supply chain firms, and electric vehicle startups. Foxconn recently announced a $230 million deal to purchase a former General Motors factory from Lordstown Motors, a struggling electric vehicle startup. Lordstown Motors’ electric pickup truck will be mass produced by Foxconn, which will also use some of the factory space to create other electric vehicles.