The Taiwanese firm that makes smartphones for Apple Inc. and other worldwide brands unveiled plans Monday to create electric cars for automakers under a contract arrangement similar to that of smartphones.
Young Liu, the chairman of Foxconn Technology Group, stated that the company will build automobiles and buses for brands in China, North America, Europe, and other regions. Clients may change their appearance and characteristics to suit their markets, he added.
Also known as Hon Hai Precision Industry Co Foxconn enters a competitive global market that includes electric vehicles from nearly every big carmaker as well as dozens of ambitious startups.
According to the firm, the premium Model E car, which was created in collaboration with Italian design firm Pininfarina, will be released in 2023. The Model E will seat five people and have a range of 750 kilometers on a single charge.
Clients listed by Liu include Fisker Inc. and Taiwan’s Yulong Group.
Other possible clients, according to Taiwan News, include Stellantis, the automaker established by the merging of FIAT Chrysler and Peugeot, although Liu has not confirmed this.
The Model T, Foxconn’s first electric bus, would have a range of fewer than 400 kilometers on a single charge, according to the company.