Tag: foxconn ev

Analysis-Foxconn races to become an EV player and the clock is ticking
6Mar By adminNo Comments
Technology

Analysis-Foxconn races to become an EV player and the clock is ticking

[ad_1] Foxconn wants to do for electric vehicles (EVs) what it has done with the iPhone, but first, it needs to find the next Apple – and fast. The Taiwanese contract manufacturer faces competition in the market for creating white-label EVs that can be tailor-made for clients, whether that's a major automaker or a delivery provider or any other company. And while the electronics giant brings established strengths to the mostly loss-making EV industry, Foxconn needs to win a big contract to prove it can ride the wave of disruption, analysts say. Foxconn, formally called Hon Hai Precision Industry Co Ltd, will provide an update on its EV manufacturing business when it reports results on March 15. "The results of many of our collaborations will be realized one after the other in 20...
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Foxconn to become biggest shareholder in Lordstown Motors with up to $170 million investment
8Nov By adminNo Comments
Technology

Foxconn to become biggest shareholder in Lordstown Motors with up to $170 million investment

[ad_1] Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker. Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker, making the Taiwanese contract manufacturer its biggest shareholder with a near 20% stake. Foxconn Ventures Pte Ltd will purchase 12.9 million shares on or after Nov. 22 and an additional 26 million shares that will propel Foxconn's holdings to 18.3% of Lordstown's common stock and all of its preferred stock, surpassing founder Stephen Burn's stake of 17.2%, according to Refinitiv. Lordstown will use the proceeds from the share sales to fund development and design activities for a new electric vehicle...
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Foxconn Unveils Pickup, Crossover Models to Expand EV Lineup
19Oct By adminNo Comments
Technology

Foxconn Unveils Pickup, Crossover Models to Expand EV Lineup

[ad_1] Foxconn took the wraps off two new electric vehicles, prototypes that embody the iPhone maker’s ambitions. Foxconn Technology Group took the wraps off two new electric vehicles on Tuesday, prototypes that embody the iPhone maker's ambitions of carving out a slice of a market led by the likes of Tesla Inc. The company, whose main listed arm is Hon Hai Precision Industry Co., unveiled the Model B crossover SUV and Model V pickup truck at its event in Taipei. Foxconn founder Terry Gou, 72, introduced the Model B by driving it onto the stage. The pickup will be produced in Taiwan, Thailand and the US, Hon Hai Chairman Young Liu said. Foxconn is hoping to replicate the way it muscled into electronics assembly to become the biggest manufacturing partner for Apple Inc. and other ...
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Taiwan’s Foxconn unveils more electric vehicle prototypes
18Oct By adminNo Comments
Technology

Taiwan’s Foxconn unveils more electric vehicle prototypes

[ad_1] Taiwanese tech giant Foxconn unveiled two more electric vehicle prototypes on Tuesday, including a pickup truck. Taiwanese tech giant Foxconn unveiled two more electric vehicle prototypes on Tuesday, including a pickup truck, saying commercial production on two other designs would start later this year. The world's largest contract electronics maker, Foxconn already plays a lynchpin role in assembling gadgets for a host of top international brands including Apple's iPhone. The company has moved to diversify beyond electronics assembly and embraced the competitive but rapidly expanding EV business, unveiling three concept cars last year. Foxconn chairman Young Liu showed off two more prototypes at Tuesday's media event in Taipei -- a sporty hatchback dubbed the Model B an...
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