Foxconn Technology Group wants to supply components to about 3 Million EVs in the next seven years

16.10.2020 - Kulakov Vladimir
Foxconn Technology Group wants to supply components to about 3 Million EVs in the next seven years

On Friday, Foxconn Technology Group (2354.TW) reported that it aims to provide components and services to 10% of the world’s electric vehicles (EV) in the next five to seven years.

Foxconn said that it already started talking to multiple car manufacturers for future cooperation.

“We want to push Taiwan’s EV industry to the world,” Foxconn’s Chairman Liu Young-way stated in an interview in Taipei.

“Hon Hai has to ready our open platform as soon as possible. We need to move fast to grab market share,” he added.

Foxconn’s Taipei-listed shares went up by 0.6% on Friday.

The Taiwanese multinational electronics company said that it would start looking for growth from different industries like EVs, digital health, and robots to diversify its global investments.

Foxconn is one of Apple Inc.’s (AAPL.O) significant suppliers.


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