One Apple can no longer make Foxconn "full" anymore. The Guo Taiming , who firmly believes that "cars are just four-wheeled iPhone", is now on the road of cross-border car manufacturing, and is still looking forward to building cars for Tesla .
5 new cars were released within one year
"Cars are very complicated compared to mobile phones. You can't go to a supplier like Foxconn and say, build a car for me."
Tesla CEO O Elon Musk never thought that his joke about Foxconn came true.
On October 18, Foxconn's parent company Hon Hai Group released three electric vehicles in one go on the third technology day: medium-sized SUV Model C mass production version, pure electric hatchback Model B, and electric pickup Model V.
plus the pure electric SUV Model E released last year and the electric bus Model T. At this point, the Foxconn Automobile family has five members.
It is worth mentioning that the release date is also the 72nd birthday of Foxconn founder Terry Gou. At the event, Terry Gou took the Model B model and personally experienced the production version of Model C at the venue.
"Experience the electric car built by Hon Hai is already one of the most anticipated birthday activities I have every year." Terry Gou couldn't help but make Versailles.
However, some netizens commented that when they saw the names of Foxconn cars, the Model, and the scent of "Tesla" is quite striking.
Regarding Foxconn’s plan for the automobile industry, Foxconn CEO Liu Yangwei said: "Foxconn's goal remains unchanged. He hopes to achieve the same market share of 40-45% as the ICT industry, but it needs to be done step by step. first plans to reach 5% of the electric vehicle market in 2025. "
Liu Yangwei emphasized that using their 48 years of experience in the field of ICT manufacturing, Foxconn can reduce the design time of electric vehicle by half and reduce the development cost by one third.
In his opinion, Foxconn's biggest advantage lies in its supply chain. "We are spread across 24 countries around the world, which undoubtedly has become a huge advantage in our demand for entering the electric vehicle industry."
Liu Yangwei said that the pre-sale of Model C has begun, and orders exceed 15,000 in 32 hours and will be delivered in the second half of next year.
However, the market does not seem to be paying for Foxconn’s electric car dream. Model B released a concept video on the 10th of this month, but the next trading day US stock Hon Hai Precision's stock price not only did not rise, but fell nearly 3% to $6.49. On the day of the press conference, Foxconn closed down 2.29% to $6.37.
was the first to build cars, intending to build
. Although it is ambition, in the industry, Foxconn is not building cars for cars.
When asked when Foxconn's electric vehicle production will surpass Tesla, Liu Yangwei directly responded that Foxconn insisted on design and manufacturing services, and expressed his hope that one day Tesla will become their customer .
Tesla did not comment on Foxconn's voice. Currently, all Tesla electric vehicles are produced by its own factories and are rapidly expanding production capacity. What Tesla can do on its own, why should we get a share of Foxconn?
The sentence "What you can't get is always in agitation" may accurately express Foxconn's behavior of "bumping into cars" with Tesla.
Terming Gou once said that OEM electric vehicles are easy to get to Foxconn. "A car is just a four-wheeled iPhone. Since we can build iPhones, why can't we build electric cars?"
So in the field of car manufacturing, what are Foxconn's core new technologies?
Foxconn did not introduce it too much on the technology day that day, only a few words.
For example, solid-state battery will be launched, which will improve the safety density and charging speed, and be safer and longer range. As for software, Hon Hai will launch HHEV.OS, and it will create standards and become a software ecosystem.
However, Foxconn has no further introduction to time nodes and technical highlights.
In addition, Foxconn exhibited key components such as EPS electric power steering system, solid-state batteries, semiconductors, etc., and announced Foxconn's CDMS (commissioned design and manufacturing service) business model in the electric vehicle field.
This further illustrates Foxconn's determination to manufacture OEM.
"We used to build PCs and mobile phones, and in the future we will build EVs." Liu Yangwei said, "In the EV industry, we will stick to CDMS, that is, the original intention of entrusting design and manufacturing services will not change. In the next 10 years, Foxconn will redefine CDMS in the automotive field and continue to promote the vertical integration of with technology services... to make car manufacturers more competitive."
backed by Apple, "can't eat enough"
0 From the overlord of Apple's OEM to the electric vehicle field, it is forced by the decline in the ICT market, and of course it is also Foxconn's active choice.
On the one hand, the market growth of terminal products such as mobile phones and computers has reached the ceiling.
Industry data shows that the total sales of mobile phones in the first half of this year were 134 million units, a year-on-year decrease of 16.9%. In terms of PC tablets, global shipments fell for four consecutive quarters, down 11% year-on-year.
Recently, news of "cutting orders" was reported on Apple iPhone 14 Plus. Technology media The Information quoted people familiar with the matter as sales fell below expectations, Apple decided to cut production of the iPhone 14 Plus. It has only been less than two weeks since the new product was launched.
The person familiar with the matter also said that the two downstream suppliers responsible for assembling parts for Apple also cut production by 70% and 90% respectively. Although Foxconn also responded without commenting on market rumors, the impact was definitely inevitable.
As Apple's largest OEM factory, although Foxconn is well-known and has a steady and improving revenue, it does not make much money.
In 2021, Foxconn's gross profit margin has fallen to 8.3%. In the first half of this year, due to the epidemic, falling smartphone sales, Foxconn's mobile phone OEM business is even in a loss situation. Judging from the Hong Kong stock listed company Fuzhikang Group , which mainly engages in mobile phone OEM business, the net loss in the first half of the year reached US$23.78 million, and the stock price has been halved this year.
Foxconn Group has many companies, and currently there are 22 companies listed in Taiwan, Hong Kong, Mainland and Japan. As Foxconn's parent company and also the flagship company of Foxconn Group, Hon Hai Precision has a market value of up to NT$1,500 billion html, NT$1, . Now the market value has dropped sharply, and A shares Industrial Foxconn has long fallen below the issue price.
Currently, Foxconn has some Apple dependence, and about 50% of its revenue is related to Apple's OEM business. But now with the decline in the industry and Apple's continuous pulling spare tires into the group, this path of OEM is becoming increasingly difficult to walk.
On the other hand, new energy vehicles are on the rise.
Anxin Securities believes that the automotive electronics industry will become another major development opportunity at the entire industrial chain level after home appliances, PCs and mobile phones. At present, automotive electronics has entered a new round of technological innovation cycle, and the penetration rate of automotive electronics and the value of bicycles will be greatly improved.
As the biggest trend in the era of artificial intelligence, smart cars are like smartphones that stirred up the ICT industry ten years ago, and have also become an important tool for "crossovereigners" such as Foxconn to seek diversified development and explore new growth points.
As early as 2019, Foxconn proposed new development goals and stated that it had previously relied heavily on OEM electronic manufacturing, and in the future, the three major modules such as electric vehicle OEM will become new growth drivers.
There is no doubt that betting on the electric vehicle field is an inevitable choice for Foxconn to get rid of its dependence on Apple, its biggest customer and realize its diversification of its business.
It is not easy to go to car manufacturing
In fact, Foxconn began to deploy in the automotive industry even earlier than many new car manufacturing forces in China.
If Foxconn has been in the manufacturing of automotive electronic products such as battery wires, audio and video transmission wire harnesses, reversing radars and smart devices, Foxconn has been in the layout for more than 15 years since it acquired 100% equity , one of the four major automotive wire harness factories in Taiwan in 2005, and officially involved in the manufacturing of automotive electronic products such as battery wires, audio and video transmission wire harnesses, reversing radars and smart devices.
Foxconn can make it by itself in terms of automotive electronic devices , screens, panels, etc., and has also been suppliers for car companies such as Tesla, Mercedes-Benz , BMW , and BMW . It is a traditional art.
It has also invested in new forces like Xiaopeng and battery giants like CATL . Even in chips, Foxconn has invested in the DNeX chip factory of Malaysia .
Just this year, Foxconn also acquired the factory of the United States commercial electric light truck supplier Lordstown Ohio to establish a North American electric vehicle manufacturing base; and cooperated with another electric vehicle company Fisker to build new electric vehicles.
Although Foxconn has been in the automotive industry for a long time, its investment is not concentrated, and there are still no mainstream customers or customers with a lot of volume.
Foxconn may not have thought that the competition for car OEM is much greater than that of mobile phones . At present, cooperation between the Internet and traditional car companies is common, and Foxconn faces far greater competition than expected.
As of now, Foxconn has no core technology in the automotive field, just like the mobile phone field. Its accumulation over the years is limited to manufacturing, cooperation, and acquisitions, and it lacks important R&D measures. 's OEM model is likely to become assembly work, and the profit margin will not be high.
In addition, the level of money burning in car manufacturing is self-evident. NIO CEOLi Bin once said that the funding threshold for car manufacturing requires reserves, and now it may not be possible to do it without 40 billion. Xiaomi officially announced that it will build a car, and it plans to invest US$10 billion in 10 years.
As Musk said, cars are indeed more complicated than mobile phones. Foxconn still has a long way to go to successfully copy the OEM experience in the ICT field to the automotive industry.
This article is from Caitongshe
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