{"id":74193,"date":"2021-10-18T12:02:06","date_gmt":"2021-10-18T09:02:06","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/business\/?p=74193"},"modified":"2021-10-18T12:02:32","modified_gmt":"2021-10-18T09:02:32","slug":"apple-supplier-foxconn-unveils-electric-vehicles","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/business\/2021\/10\/apple-supplier-foxconn-unveils-electric-vehicles\/","title":{"rendered":"Apple supplier Foxconn unveils electric vehicles"},"content":{"rendered":"

Taipei<\/span>,\u00a0Taiwan, October 18 – <\/span>Taiwanese tech giant Foxconn\u00a0unveiled three electric vehicles on Monday, boosting its bid to be a major player in the rapidly expanding EV market as it seeks companies to partner with.<\/strong><\/p>\n

The world’s largest contract electronics maker, Foxconn already plays a lynchpin role in assembling Apple’s iPhones as well as gadgets for a myriad of top international brands.<\/p>\n

But it has been moving fast to diversify beyond electronics assembly and has ploughed money into electric vehicles, including a joint venture with local automaker Yulon Motor and purchasing a struggling auto plant in Ohio.<\/p>\n

The models unveiled on Monday — a sedan, an SUV and a bus — are concept vehicles that Foxconn hopes it could build with other manufacturers.<\/p>\n

“Foxconn is no longer a new kid in town,” chairman\u00a0Young Liu declared at the unveiling ceremony in Taipei.<\/p>\n

Foxconn’s founder Terry Gou drove their “Model E” sedan to the presentation and said the company’s EVs “demonstrate Taiwan’s overall industrial strength”.<\/p>\n

A white sports utility vehicle — “Model C” — is expected to hit the market in Taiwan in 2023 with a price tag of under Tw$1 million ($357,000), the firm said.<\/p>\n

Its “Model T” electric bus could start operating in southern Kaohsiung city as early as next year if it passes the transport ministry’s review, vice premier Shen Jong-chin said.<\/p>\n

Foxconn has funnelled about Tw$10 billion ($355 million) into electric car development in 2020 and the company says its investment will rise over the next two years.<\/p>\n

Liu said the company “has gradually built an electric vehicle supply chain and\u00a0distribution network”, with one new partnership announced almost every month this year.<\/p>\n

Among its recent partners is Fisker, one of a host of US-based electronic car startups hoping to one day challenge Tesla’s supremacy.<\/p>\n

The two companies announced plans to jointly develop electric cars sold under the Fisker brand with a goal to start producing vehicles in late 2023.<\/p>\n

It has been widely reported for years that Apple has a secret electronic car project, something Foxconn could be in an ideal place to partner on given its existing relationship with the Californian giant.<\/p>\n

The unveiling of Foxconn’s models comes as car makers suffer from a global shortage of semiconductors after the coronavirus pandemic caused purchases of electronics and computer parts to sky-rocket.<\/p>\n

Taiwanese high-tech chip foundries are some of the world’s biggest and most advanced and have been ramping up production to meet the demand.<\/p>\n","protected":false},"excerpt":{"rendered":"

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