Foxtron Vehicle Technologies, the Taiwan joint venture between Hon Hai Precision Industry and local carmaker Yulon Motor Group, was expected to start production of a battery powered SUV in the fourth quarter of 2023.
The news came during a recent investor conference.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Hon Hai, Apple’s contract manufacturer Foxconn, aims to become a significant player in the global EV industry. It has developed an EV platform complete with powertrain and has established several EV partnerships around the world.
The Foxtron joint venture was expected to begin production of the Model C later this year, based on the MIH dedicated EV platform developed by Hon Hai with the support of local and overseas component manufacturers. It was expected to be powered by lithium iron phosphate (LFP) batteries.
Sources in the US also said Hon Hai wanted a supply deal with a battery cell manufacturer for its US EV production operations, following last year’s acquisition of Lordstown Motors in Ohio. The company was said to have already set up EV battery management system production lines at the former GM Ohio factory where it aims to produce EVs which qualify for tax credits under the US Inflation Reduction Act.
The Taiwanese electronics giant was also said to be also developing a solid state battery to be produced at Lordstown and at other EV JVs worldwide.
The company said it would provide a more detailed update on its EV operations at a tech day on 18 October.
