Taipei: Foxconn Technology Group’s new EV platform is expected to help launch vehicles later this year, a company official said, indicating major progress in pushing the Taiwanese electronics giant into the auto business.
Two light vehicles designed to use the Foxconn platform will be unveiled in the fourth quarter, Hon Hai Precision Industry Co., president of Foxconn’s main unit, told reporters at the company’s headquarters in the suburbs of Taipei on Saturday.
He said the company may also help launch an electric bus around the same time.
Foxconn is seeking to bolster its automotive capabilities at a time when tech companies, including its customer, Apple Inc, are looking to expand into cars. Foxconn in October unveiled its first EV chassis and software platform intended to help automakers bring models to market faster.
The company set up a joint venture with Chinese automaker Zhejiang Geely Holding Group Co last month. Liu said the project is currently in talks with the emerging Faraday Future and others about collaborating on electric vehicles.
While Foxconn will see revenue growth from auto projects this year, Liu expects the electric vehicle business to start making a meaningful contribution to the group’s overall sales only in 2023.
Separately, Liu said that the ongoing chip shortage has only limited impact on the company’s major customers and that he does not expect a drop in this quarter, which is usually a low season.
Liu added that Foxconn will continue its efforts to acquire the 8-inch wafer facility, after Malaysian media reported earlier that Foxconn was losing its bid to buy SilTerra Malaysia Sdn Bhd to another consortium. Liu said Foxconn still wanted to secure a partnership with the Malaysian chip maker.