Foxconn, the world’s largest electronics manufacturer, has taken another significant step toward becoming a major player in the EV industry and electric vehicle manufacturing. On July 24, the company’s parent company, Hon Hai Technology Group, announced a strategic cooperation agreement with the government of China’s Henan province. Under the agreement, Foxconn will establish EV and solid-state battery pilot production facilities in the Zhangzhou Airport Economic Comprehensive Experimental Zone. The EV Trial Production Center aims to create a world-class, high-end demonstration production line for new energy vehicles.
The company plans to invest approximately 1 billion yuan ($138 million) in the project. The project will cover approximately 700 acres in Zhengdong New District and will include seven centers, including a corporate headquarters, R&D center, engineering center, industrial research institute, marketing center and supply chain management center. Foxconn’s move into EV manufacturing builds on its long-standing involvement in the automotive supply chain. The company began supplying components to Tesla in 2010 and has since developed its own EV platform with advanced technologies such as x-by-wire systems.
While Foxconn has unveiled several EV concepts in recent years, including the Model T bus, Model V pickup truck, Model C SUV, Model E sedan, and Model B hatchback, none have gone into production. However, Foxtron, a joint venture between Foxconn and Taiwan’s Yulon Auto Group, is reportedly planning to launch the Model C SUV in North America by 2025. Foxconn’s EV ambitions extend beyond China. In the United States, the company has acquired the former General Motors factory in Lordstown, Ohio, further cementing its global EV manufacturing aspirations.
This latest development in Henan follows Foxconn’s establishment of a New Energy Vehicle (NEV) company in the province in January 2024, with registered capital of 500 million yuan ($69 million). The move leverages Foxconn’s existing presence in Zhengzhou, where it operates the world’s largest iPhone factory. As Foxconn continues to diversify beyond electronics manufacturing, its expansion into EV production signals a major shift in the company’s strategy and could potentially reshape the global EV manufacturing landscape.
Source: Electrive, CarNewsChina
