Taiwan’s New Taipei City – Foxconn, the flagship iPhone assembly, says it will release the first electric vehicles built using the company’s open source software and hardware platform by the end of this year.
“This year will mark an important year for Foxconn’s EV efforts. In the fourth quarter of this year, there will be two or three EV models using our MIH platform designs,” Young Liu, Foxconn’s president, told reporters at the company’s headquarters in New Taipei. Saturday.
Foxconn, which is looking for new revenue streams against the slow-moving smartphone industry, is betting on an open platform called MIH to accelerate the growth of its electric vehicle business. The customizable platform, which includes chassis, electronic architecture and support for automatic driving, is designed to shorten the time and resources required for automakers to convert new electric cars. Foxconn has invited suppliers across various industries to join the MIH-based alliance formed last October. According to Foxconn, the alliance has attracted more than 700 companies worldwide, including Qualcomm, MediaTek, ARM, AWS and ST Microelectronics.
Foxconn will hold its first MIH Alliance summit next month. Members will discuss plans for members, Liu said.
The first three EV models based on the MIH platform will include an electric bus and two passenger vehicles for the Taiwanese and Chinese markets, he said.
Meanwhile, he added that a joint venture with Foxconn’s Zhejiang Geely Holdings Group will work with Geely and Chinese EV founder Faraday Future on possible plans for EV development.
“People’s needs and commitment to the EV industry are growing,” Liu said. “I think the entire EV industry will start in 2024, a year earlier than my previous estimate. Many athletes will launch their electric vehicles that year.” Mr. Liu said Foxconn’s goal of getting 10% of global EVs using MIH platform designs by 2025 remains unchanged.
The Apple supplier’s car business, which currently focuses primarily on components, contributed $ 9.5 billion ($ 340 million) in new Taiwan sales in 2019, with Foxconn’s annual sales in 2019 and 2020 being less than $ 5 trillion. . Liu said the EV-related business expects to make a significant revenue contribution to the company from 2023.
Liu, who took over as chairman of Foxconn in June 2019, is helping the contract electronics giant to identify new long-term growth drivers. Areas of priority for Foxconn investment include electric vehicles, semiconductors, servers and key components.
Foxconn has been aggressively expanding in the EV industry over the past year. A partnership with Fiat Chrysler Automobiles to develop electric vehicles for the Chinese market, another joint venture with Yulon Group, Taiwan’s second largest carmaker after Hotai, and another joint venture with Geely, China’s largest privately owned car developer. Has been established. Automatic team.
Earlier this year, the iPhone assembled a relationship with Chinese startup Byton. When the Taiwanese company forced Byton to cease operations in July last year, it began sending people to the Byton factory, providing initial supply and management management and operational support to restore its production plans.