Taiwan tech giant Foxconn unveiled three electric vehicle models, becoming the latest tech outfit to enter the world of EVs.
The company revealed three models: an SUV, a sedan, and a bus, all of which use Foxconn software and hardware throughout.
Most interestingly, the announcement brings a new angle to the much-rumored Apple Car, with Foxconn a long-time Cupertino partner and the largest manufacturer of iPhones.
Will Foxconn compete with Apple or work with them?
Foxconn Unveils Three New Electric Vehicle Prototypes
Foxconn's HHTD21 event went off with a silent whirr as the company unveiled its three new electric vehicle prototypes.
Foxconn chairman Liu Young-way told the event that "Hon Hai is ready and no longer the new kid in town," referring to the companies previous name, Hon Hai Precision Industry Co Ltd. The event was held to coincide with the birthday of billionaire founder Terry Gou, who also drove the Foxconn EV sedan onto the stage at the event.
The prototypes, developed under the Foxtron brand in collaboration with Yulon Motor, include:
- Model C: An all-electric SUV with a rapid 0-62MPH in 3.8s, expected to cost around $37,500, featuring a sleek, minimalist design.
- Model E: The high-end luxury sedan will launch with 750HP, smash 0-62MPH in 2.8s, and comes with a 750km range. The Model E looks similar to some top-end, S-Line Audi models, but with a high-tech interior covered with leather, ambient lighting, and more.
- Model T: Likely to launch with a range of 400km and a top speed of 75MPH. Unfortunately, not much more is known about the Model T yet, but if it follows the style pointers from the Model C and Model E, you'll be riding the EV bus in style.
Is Foxconn Competing With Apple?
While the Foxconn EV prototypes look awesome, its surprise entry into the world of electric vehicles presents some additional questions.
Specifically, as one of Apple's biggest manufacturing partners, is Foxconn positioning itself as the manufacturer of the rumored Apple Car? Or is it just attempting to carve the market out for itself, stepping to Tesla, Volkswagen, and other EV manufacturers?
Foxconn is committed to building its EVs in the market they will be sold in. It already owns several factories in Taiwan, as you would expect. However, in late September 2021, it agreed a $280 million deal to purchase an auto plant in Ohio, ramping up auto (and presumably, electric vehicle) production stateside.
The factory was purchased from Lordstown Motor Corp at a slightly marked down price but gives Foxconn an operating plant with existing manufacturing capacity and all the equipment that comes with it.
So, on the one hand, Foxconn could bring its new Foxtron EV brand to users in the US. But, it could also be lining up a bid to become Apple's US-based manufacturing partner when the company eventually releases its Apple Car.
The Apple Car has no specific timeline, and outside of rumors, job listings, personnel transfers, and the alleged 5,000 employees working on the project, Apple has said exactly nothing concrete. In 2020, Reuters reported that Apple was working towards a 2024 launch date, but other rumors put that date at 2028 or later.
Foxconn Opens Up Electric Vehicle Market
Regardless of whether Foxconn partners with Apple, another option in the growing electric vehicle market is no bad thing for consumers.
With many countries pushing towards complete ICE (Internal Combustion Engine) bans within the next few decades, EV capacity needs to increase to meet demand.