August 12, Foxconn parent company Hon Hai Group released its latest quarterly financial report. At the same time, Hon Hai Group Chairman Liu Yangwei announced the Hon Hai Group's electric vehicle production plan, saying that Hon Hai will start mass production of electric vehicles in the United States and Thailand in 2023, and is expected to grow significantly next year. In addition, Hon Hai will also build automobile factories in different regions, including the United States.
The automotive industry is accelerating its transformation to electrification. Foxconn has also shown its ambitions in the face of new opportunities. Liu Yangwei said that in the field of electric vehicles, Foxconn will provide customers with vertical integration services through the company's unique business model, from design, parts, manufacturing to regional cooperation with to meet the various needs of car manufacturers.
It is reported that Hon Hai Group has formed a team of thousands of people in the automotive-related industries and is currently conducting a large number of recruitment for related businesses. It is expected that there will be more than a thousand people in the future in the business directions of electric vehicles, semiconductors and other businesses.
As early as the end of 2020, Foxconn revealed that it will enter the electric vehicle market and released the MIH electric modular platform, which will provide car companies with key electric vehicle parts production services, suitable for all brands and models. It is reported that the MIH platform mainly provides three cooperation models, including vehicle OEM, providing chassis and appearance, and selling platform technology to car companies. According to Foxconn's plan, it will supply accessories or provide services to 10% of the world's electric vehicles between 2025 and 2027.
In addition to releasing the electric vehicle OEM platform, Foxconn has also made some arrangements in the chip field. Since the beginning of this year, the "chip shortage" has affected the global market, the automobile industry has been affected, and a large number of automakers have been forced to cut production. Against this background, Foxconn, which is in the field of electric vehicles, has set its sights on electric vehicle chips.
August 5, Foxconn and chip manufacturer Wanghong Electronics jointly held a signing ceremony to acquire the latter's six-inch wafer factory building and equipment for a price of 2.52 billion New Taiwan dollars (approximately RMB 586 million). Liu Yangwei said that after obtaining this chip factory, Foxconn will use it to develop and produce third-generation semiconductors, especially SIC power components used in electric vehicles. Some industry insiders analyzed that Foxconn's semiconductor layout may meet its future electric vehicle business needs.
