Foxconn aims to supply 10% of global electric vehicles

Foxconn, a Taiwanese multinational electronics contract manufacturer aims to provide components or services for 10% of the world’s electric vehicles between 2025 and 2027. It is in talks with multiple car manufacturers for future cooperation said the Chairman Liu Young-way.

Foxconn

The Hon Hai Precision Industry Co Ltd and a major supplier to Apple Inc are now looking for fresh growth from various sectors such as electric vehicles, digital health and robots in a drive to diversify its global investments.

To manufacture electric cars and to develop the internet-connected vehicles in China the company is planning to set up a joint venture with Foxconn. “We want to push Taiwan’s EV industry to the world,” Liu said in Taipei.

EVs battery types & its components, advantages & disadvantages

“Hon Hai has to ready our open platform as soon as possible. We need to move fast to grab market share,” he said referring to Foxconn to build an open platform to make key EV components including the batteries and car internet services to carmakers.

Foxconn has said that it will not manufacture the cars and will make key components for EVs and work with global major automakers to reach the 10% goal.

Foxconn is planning to launch its first solid-state battery for EVs in 2024, which is a high-capacity energy storage device that improves on current batteries, he said.

Omega Seiki and FITT partnered to work on EV technology & research

Omega Seiki Mobility and FITT an industry interface organisation established by the Indian Institute of Technology, Delhi have joined hands to work on electric vehicle technologies and advanced research.

Both the partners have signed a memorandum of understanding for this collaboration that aims to innovate the alternate energy powered vehicles and other emerging technologies in EV space.

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