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Explore the latest trends and actionable insights on the Global Electric Vehicles market to inform business strategy and pinpoint opportunities and risks

Foxconn Unveiled New Electric Vehicle Models to Expand its Presence in EV Industry

Industry: Future Mobility
Current: ESG

Foxconn launched a prototype of its new electric vehicles Model B crossover & Model V pickup truck
Manufacturing units for the new EV models will be in Taiwan, Thailand, and The U.S.
Foxconn intends to switch its focus from iPhones and capitalize on the growing potential in the EV sector, which is currently led by Tesla

Foxconn is Planning to Manufacture Electrical Vehicles for Top Global EV Brands

Foxconn is the leading contract manufacturer and works in collaboration with the world’s leading electronic brands, including Apple and Xiaomi. The company is now planning to diversify its specialization from electronic products and enter the highly lucrative EV market through collaborations with EV brands. Foxconn has recently made several moves in the EV space and is already manufacturing electric vehicles for a few EV brands. The company is already manufacturing electric vehicles for a Taiwan-based automaker Yulon Group and intends to manufacture electric vehicles for other top global EV brands, including Tesla. With the new launch, Foxconn clarified no plans to sell the vehicles directly to the customers. The company has developed prototypes to demonstrate its capabilities and plans to manufacture electric vehicles for major-brand clients.

Soaring Demand for Electric Vehicles is Enticing the Manufacturers to Explore New Opportunities

The electric vehicles industry is expanding rapidly after beginning as a niche market a few years ago. Companies across industries are making strategies to carve a share of the market by solidifying their market position through strategic partnerships and joint ventures. With the fierce competition being created by the new entrants, the market's incumbent brands will have to fight to keep their position.

Explore the latest trends and actionable insights on the Global Electric Vehicles market to inform business strategy and pinpoint opportunities and risks Explore the latest trends and actionable insights on the Global Electric Vehicles market to inform business strategy and pinpoint opportunities and risks Visit Report Store