The world’s largest contract electronics maker Foxconn unveiled two prototype electric vehicles on Tuesday (October 18) namely a sporty hatchback dubbed the Model B and a pickup, the Model V.
At the launch, it said commercial production on the other two designs would begin later this year.
Foxconn has been known as a gadget assembler for a number of international brands including the Apple iPhone.
Now, the company is diversifying beyond its core business and into the competitive but fast-growing electric vehicle business with the launch of three concept electric vehicles last year.
Foxconn elder Young Liu showcased two more vehicle prototypes at Tuesday’s media event in Taipei – a sporty hatchback dubbed the Model B and a pickup, the Model V.
He also announced saying that commercial production will begin by the end of the year for the electric bus and family electric sports vehicle.
“Foxconn has cut in half the design time and reduced development cost by a third in taking an EV from concept to production-ready,” Liu said.
Foxconn is also using its current business mode, which is to become a contract manufacturer for several electric vehicle manufacturers. Foxconn will build the vehicle for the client using the prototype as a guide.
As a contract manufacturer, Foxconn will build electric vehicles for Lordstown Motors after completing the purchase of the former General Motors plant in Ohio.
This month, Foxconn signed a memorandum of understanding with INDIEV to build the first INDI One EV prototype at its Ohio facility.
Foxconn will also build Fisker Pear from one of a number of US-based electronic car startups hoping to one day challenge Tesla’s supremacy. Upcoming production of Fisker Pear at the Ohio plant starting in 2024.
