Foxconn is planning to produce electric vehicles in Europe, India and Latin America. Chair of the board Liu Young-way hinted at this in a conversation with reporters at a business forum in Taipei.
While he could not give any details about the plans yet, the timetable foresees production in Europe first and then in India and Latin America, writes the news agency Reuters. Also interesting: According to Liu, this includes an “indirect” cooperation with German car manufacturers. Again, he left it at the hint and did not go into further detail.
“Europe will be a bit faster, I agree with that,” Liu said. “But as to where, I can’t tell you.” This was apparently due to disclosure restrictions, he explained. For Latin America, Mexico is apparently a possible location; many established carmakers also manufacture their vehicles here.
According to Liu, the business model to be used is called “BOL” – meaning “Build, Operate and Localise”. Already confirmed partners are Stellantis (for in-car and connected-car technologies), electric car startup Fisker (for Project Pear) and Thai energy company PTT.
At the Taipei event, the company, officially called Hon Hai Precision Industry, had unveiled its first three Foxtron-branded electric vehicle prototypes developed in-house. Liu did not confirm whether the Foxtron vehicles – such as the Model C SUV and the Model E sedan – will also be built in the European plant for the local market. It is also possible that it will primarily be contract manufacturing – possibly based on OEM partners’ platforms or also on Foxconn’s own electric car platform MIH.
Back in August, it became known that Foxconn was planning electric car plants in Thailand and the USA. Production is scheduled to start in both cases in 2023. The location of the US plant seems to be clear in the meantime: At the beginning of October, it became known that Hon Hai would buy the plant of the ailing electric car start-up Lordstown Motors. This is a former GM factory in the city of Lordstown in Ohio. The factory in Thailand for the joint venture with PTT is expected to produce up to 200,000 cars a year, according to Liu’s statements at the time. A location is not yet known.
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