Key Takeaways
1. Foxconn plans to enter the US electric mobility market with its first electric crossover, the Model C, by the end of 2025.
2. The company aims to establish a manufacturing facility in the US despite facing new import regulations and the ending of certain EV incentives.
3. Initial production of the Model C will take place in Taiwan, with plans to eventually manufacture it in the US.
4. Foxconn has partnered with Mitsubishi Fuso Truck and Bus Corp to develop battery-powered buses based on its Model T and Model U vehicles.
5. The joint venture Foxtron, with Yulon Motor Co., is focused on designing and engineering electric vehicles and has already launched the Model T bus in Taiwan.
Foxconn is widely recognized as the contract maker for Apple iPhones, but the Taiwanese firm has announced its strong desire to break into the US electric mobility market with the introduction of its first electric crossover, known as the Model C, before 2025 wraps up.
Commitment to Electric Mobility
Despite facing new US import regulations on foreign electric vehicles and the end of certain EV incentives, Foxconn is not backing down. The tech giant expressed its confidence, stating that the Model C is currently in the process of getting certified in the United States. The company’s strategic vision includes establishing a manufacturing facility in the US to serve the North American market.
Production Plans in Taiwan
In the meantime, plans are in place to kick off production of the Model C at Foxconn’s plant in Taiwan. James Wu, a spokesperson for Foxconn, mentioned, “The Model C plan remains unchanged. For our U.S. customers’ initial orders, production will start in Taiwan, but our goal of manufacturing the Model C in the U.S. has not changed.”
New Partnerships for Growth
Foxconn also provided encouraging news to its investors by announcing a new partnership with Mitsubishi Fuso Truck and Bus Corp from Japan to create battery-powered buses. The two firms will work together to develop electric buses, which will be based on Foxconn’s Model T full-size and Model U mid-size vehicles.
Foxconn formed a joint venture called Foxtron with another Taiwanese automotive company, Yulon Motor Co. This joint venture was responsible for designing and engineering the Model T and Model U at Foxconn’s new electric vehicle battery manufacturing facility located in Kaohsiung, Taiwan. The Model T bus is already available for sale in Taiwan and has been included in local municipal fleets.
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