TAIPEI/DETROIT: Foxconn wants to do for electric vehicles (EVs) what it has done with the iPhone, but first, it needs to find the next Apple – and fast. The Taiwanese contract manufacturer faces competition in the market for creating white-label EVs that can be tailor-made for clients, whether that's a m
TAIPEI/DETROIT: Foxconn wants to do for electric vehicles what it has done with the iPhone, but first, it needs to find the next Apple – and fast.
"The results of many of our collaborations will be realized one after the other in 2023," the company said in a statement to Reuters."The demand for EVs is driving industry disruption where prominent traditional automakers have and are pivoting to finding solutions for mobility that are cleaner and smarter."
Failure to"catch this wave" could force Foxconn to vie with lower-tier Chinese automakers who might switch to EV contract manufacturing and compete on cost, Huang said. "Sooner or later, maybe the top, traditional say, 'Hey, I want to become a product marketing company. Why do I need to carry so many employees?'" he said.
His firm estimates Foxconn hitting about 65,000 vehicles in 2025 and 157,000 in 2026."They're not making iPhones here," he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Analysis:Foxconn races to become an EV player and the clock is tickingTAIPEI/DETROIT : Foxconn wants to do for electric vehicles (EVs) what it has done with the iPhone, but first, it needs to find the next Apple – and fast.The Taiwanese contract manufacturer faces competition in the market for creating white-label EVs that can be tailor-made for clients, whether that's a
Read more »
Analysis:China's chip sector needs more than state money to dull impact of US restrictionsSHANGHAI : China plans to splurge to help its chip sector overcome U.S. export curbs, but money can only do so much unless Chinese firms can break from a cycle that hinders innovation and traps them at the low end of the value chain, industry players said.The government has earmarked $140 billion that cou
Read more »
Analysis:Chinese companies hang onto dollars, hedge to prepare for volatile yuanSHANGHAI : Some Chinese companies are holding on to dollar revenues from exports, while others are turning to foreign exchange hedging in anticipation of a fall in the value of the yuan, according to executives, bankers and data analysed by Reuters.Several bankers in China told Reuters that clients are re
Read more »
Team by team analysis of Bahrain Grand PrixMANAMA : Team-by-team analysis of Sunday's season-opening Bahrain Formula One Grand Prix, listed in championship order:RED BULL (Max Verstappen 1, Sergio Perez 2)Verstappen won a season-opener for the first time and added Bahrain to his list of victories in a dream start to his bid for a third succ
Read more »
Diabetic F3 driver allowed to race with mobile phone in carMANAMA : Australian teenager Christian Mansell competed with a mobile phone in the cockpit of his car in Formula Three races at the Bahrain Grand Prix after stewards gave the go-ahead on medical grounds.The 18-year-old is Type One diabetic and the handset, fixed out of reach, allowed his coach to monitor
Read more »
F1 drivers see no need for qualifying changeMANAMA : Formula One will experiment with qualifying at two races this season, the first likely to be Imola in May, but double world champion Max Verstappen and other drivers see no need for change.The plan is to restrict tyre choice for the Saturday session so the first phase of qualifying will be hard c
Read more »