Summary
– Foxconn plans to deliver over 10,000 electric SUVs this year through a joint venture with Yulon Motors
– The company is focusing on marketing the Model C SUV, with plans to mass-produce and promote the Model B abroad
– Foxconn expects more than 9,000 orders for passenger vehicles in Taiwan, with full-year sales exceeding 10,000 units
– 1,555 units of the LUXGEN n7 electric vehicle have been delivered in the first four months of the year
– Foxconn is developing a Model D multi-purpose passenger vehicle prototype and plans to enter the commercial vehicle segment with production of electric buses in Kaohsiung, with groundbreaking on a factory in April and production expected to reach 1,000 buses by 2028
Article
Foxconn Chair Young Liu announced plans to deliver more than 10,000 electric SUVs this year through a joint venture with Yulon Motors, focusing on the Model C SUV and the upcoming Model B crossover electric vehicle. The company expects to receive over 9,000 orders from Taiwanese customers for the Model C, with full-year sales projected at more than 10,000 units. Additionally, Foxconn has delivered 1,555 units of the LUXGEN brand n7 electric vehicle in the first four months of the year and is working on a multi-purpose passenger vehicle (MPV) prototype, the Model D, which will be showcased in October.
In addition to passenger vehicles, Foxconn is entering the commercial vehicle segment by producing electric buses. A joint venture with Yulon has broken ground on a factory in Kaohsiung’s Qiaotou Science Park, with plans to complete the facility by 2025. Initial production capacity for electric buses is set at 500 per year, with a goal of reaching 1,000 in 2028. The company aims to share its electric vehicle production platform with partners to reduce development costs and achieve economies of scale, positioning itself as a key player in contract design manufacturing services (CDMS) and supply chain management.
The production of electric vehicles is part of Foxconn’s strategy to diversify its business beyond electronics manufacturing. By entering the electric vehicle market, the company is aiming to leverage its expertise in technology and manufacturing to become a prominent player in the rapidly growing industry. With a focus on electric SUVs, passenger vehicles, and commercial buses, Foxconn is positioning itself to meet the demands of a changing market and capitalize on the shift towards electrification in the automotive sector.
Liu emphasized the importance of utilizing an open production platform for electric vehicles, which will allow Foxconn to collaborate with partners and share technology to drive down costs and increase efficiency. By expanding its presence in the electric vehicle market and leveraging its manufacturing capabilities, Foxconn aims to establish itself as a leader in the industry and secure a strong position in the global market. With a focus on innovation, collaboration, and scale, the company is working towards achieving success in the electric vehicle sector.
Overall, Foxconn’s plans to deliver over 10,000 electric SUVs this year and expand into passenger vehicles and commercial buses demonstrate its commitment to diversifying its business and capitalizing on the growing demand for electric vehicles. By leveraging its manufacturing expertise and technology capabilities, the company aims to establish itself as a key player in the electric vehicle market and position itself for long-term success in the industry. Through strategic partnerships, a focus on innovation, and a commitment to sustainability, Foxconn is working towards achieving its goals in the rapidly evolving automotive sector.
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