New Delhi : Foxconn, which assembles iPhones for smartphone selling company Apple, is now going to enter the electric vehicle sector. According to a Bloomberg report, as the demand for smartphones is declining in the world, Taiwan’s leading electronics company Foxconn is going to enter the electric vehicle business. During a conversation with the media in June 2023, Foxconn Chairman Young Liu had said that along with making electronic gadgets, his company is also increasing focus on manufacturing electric cars. The company has also announced to shift its manufacturing plants from China to another country.
MoU with Blue Solutions to manufacture batteries
According to media reports, Bolloré Group unit and Blue Solutions, a global industrial-scale designer and manufacturer of solid-state batteries, have jointly partnered with Foxconn, a High Technology Group company, to develop a solid-state battery ecosystem for the electric two-wheeler market. And has signed an agreement with its subsidiary company SolidEdge Solution Inc. Both these companies have agreed to use their expertise, technologies and resources to develop and produce batteries for two-wheelers. They aim to produce batteries using Blue Solutions’ exclusive solid-state cell technology.
Can set up a plant in India
It is being said in media reports quoting sources that Foxconn can set up a manufacturing plant for electric vehicles in India. Foxconn is hoping to capture about 5 percent of the global electric vehicle market in the coming years. Moving towards its goal, the company has also manufactured some models. Foxconn Chairman Young Liu says that the demand for electric cars will increase rapidly in the coming years. In such a situation, the company will launch budget segment electric cars along with luxury ones.
This step was taken due to America-China dispute
The company says that it has decided to take this step due to the ongoing dispute between America and China. Young Liu says that the company should be prepared even for the worst situation. He said he also hopes that the US and China will keep peace and stability in mind, but as a CEO he has to think about what will happen if the worst happens.
China is trying to capture Taiwan
There has been tension between America and China regarding Taiwan for a long time. China can attack this island country at any time to capture Taiwan. Young Liu says that efforts are already being made to maintain business continuity. Under this, the company has shifted some of its units from China to Mexico and Vietnam. In view of national security, Foxconn’s data servers have also been removed from China.
Foxconn made TV knob in 1974
Foxconn, a company of Hon Hai Technology Group, started making knobs for TV in 1974. It is now one of the most powerful technology companies in the world with annual revenues of $200 billion. Now this company makes smartphones like Apple iPhone and iMac. Foxconn’s customers also include Microsoft, Sony, Dell and Amazon.