Foxconn to develop battery materials for EVs
According to a media report, the Taiwanese contract manufacturer Foxconn, which works for Apple, is investing the equivalent of around 36 million US dollars in the company Giga Solar Materials via a subsidiary. Foxconn said in a statement on Tuesday that the two companies will jointly develop electric vehicle battery materials.
According to a Reuters report, the investment will make Foxconn the second-largest shareholder in Giga Solar Materials. The nature of the battery materials that the two partners intend to develop together is not made clear in the news agency’s brief article. Giga Solar Materials, as the name of the company suggests, is mainly at home in the production of materials for solar cells. Like Foxconn, the company is based in Taiwan.
Foxconn has identified electric vehicles as an important new business area and unveiled an electric car platform in autumn 2020. This was followed by a series of collaborations, including with Geely, Fisker, Nidec and Thailand’s state-owned energy company PTT. Foxconn has already emphasised several times that it wants to develop a solid-state battery that is to be launched on the market by 2024. In March, for example, company boss Liu Young-way told media representatives that a prototype solid-state cell was to be developed this year.
Shortly afterwards, it became public that Foxconn was also to negotiate with the Vietnamese electric car start-up VinFast about a cooperation for the development of batteries and other components for electric cars. VinFast is also known to be interested in solid-state batteries.
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