Could Foxconn Become the World Leader in EV Manufacturing?
Wired has an interesting piece up about the future of EV manufacturing and how the most populous nation on earth could become the epicenter for electric vehicles.
Back in October 2021, the infamous consumer electronics manufacturer, Foxconn, announced a collaboration with Taiwanese automaker, Yulon, to produce three EVs. Foxconn has also inked deals with two US-based EV startups, Lordstown Motors and Fisker.
Considering China’s esteemed place in the consumer electronics and EV supply chain, it’s no surprise that the nation’s largest employer would try to take the lead in one of the most important industries of the future.
China is far and away the lithium-ion global leader, with 558 GWh of Li-ion manufacturing capacity (79% of the world’s total), with the U.S. a distant second at 44 GWh and 6.2% of the world’s total.
And with the battery pack the most expensive part of EVs — and our ability to quick-charge them a critical part of their mainstream penetration — it just makes sense that China would want to skip the middleman.
If they’re already the global leader in consumer widget manufacturing, why not a lateral move into EVs?
Last year, Foxconn unveiled prototypes of the Model C recreational vehicle, the Model E sedan, and the Model T electric bus as part of its commitment to “become a global next-generation automotive manufacturer.”
Chi-Sen Tso, Vice Chairman of Foxtron, noted then that “in the past year, Hon Hai had made significant achievements in electric vehicle development that included strategic partnership alliances, critical technology research and development as well as the expansion of a global production network.”
Indeed, Foxconn already has deals in place with China’s largest private automaker, Geely, as well EV startup Fisker Inc.
And their own branded vehicles look impressive, with the Model E sedan able to travel 466 miles on a single charge and go 0-62 miles an hour in under 3 seconds.
Could Foxconn become as synonymous with EVs as it is with the iPhone, Nintendo, PlayStation, Kindle, and 40% of all consumer electronics sold worldwide? It certainly appears to be heading in that direction.
