Taiwan's Foxconn shows off three electric vehicle prototypes

Pininfarina SpA

18/10/2021 06:08

By Yimou Lee
    TAIPEI, Oct 18 (Reuters) - Taiwan tech giant Foxconn
 2317.TW  unveiled its first three electric vehicle prototypes
on Monday, underscoring ambitious plans to diversify away from
its role of building consumer electronics for Apple Inc  AAPL.O 
and other tech firms.
     The vehicles - an SUV, a sedan and a bus - were made by
Foxtron, a joint venture between Foxconn and Taiwanese car maker
Yulon Motor Co Ltd  2201.TW .
    Foxtron Vice Chairman Tso Chi-sen told reporters that
electric vehicles would be worth a trillion Taiwan dollars to
Foxconn in five years time - a figure equivalent to around $35
billion.
    Foxconn, formally called Hon Hai Precision Industry Co Ltd,
aims become a major player in the global EV market and has
clinched deals with U.S. startup Fisker Inc  FSR.N  and
Thailand's energy group PTT PCL  PTT.BK .
 urn:newsml:reuters.com:*:nL3N2NI0LY urn:newsml:reuters.com:*:nL1N2QX1DM
    "Hon Hai is ready and no longer the new kid in town,"
Foxconn Chairman Liu Young-way told the event timed to mark the
birthday of the company's billionaire founder Terry Gou.
    Gou drove the sedan, which was jointly developed with
Italian design firm Pininfarina, onto the stage to the tune of
"Happy Birthday".
    The sedan will be sold by an unspecified carmaker outside
Taiwan in the coming years, while the SUV will be sold under one
of Yulon's brands and is scheduled to hit the market in Taiwan
in 2023.
    The bus, which will carry a Foxtron badge, will start
running in several cities in southern Taiwan next year in a
partnership with a local transportation service provider.  
    Foxconn this month bought a factory from U.S. startup
Lordstown Motors Corp  RIDE.O  to make electric cars. In August
it bought a chip plant in Taiwan in a move to supply future
demand for auto chips.  urn:newsml:reuters.com:*:nL1N2PC0AJ urn:newsml:reuters.com:*:nL1N2QX1DM
    Foxconn has also set a target to provide components or
services for 10% of the world's EVs by between 2025 and 2027. 
  ($1 = 27.9880 Taiwan dollars)

 (Reporting by Yimou Lee; Editing by Edwina Gibbs)
 ((yimou.lee@thomsonreuters.com; +886-2-8729-5122;))