Foxconn, Apple Potential Automotive Manufacturing Contenders

It’s possible that Foxconn and Apple could supply electric vehicles alongside the industry leaders as the companies make plans to expand

Foxconn, a supplier of technology to Apple, has announced a venture into a new market. The company recently announced its plans to move into the electric vehicle (EV) market, taking on some of the leading global automotive manufacturers. 

As the producer of the iPhone, Foxconn is looking to broaden its capabilities, which it has been working on since 2014. The company’s Founder and former Chairman, Terry Gou, says, ‘If we can make iPhones, why can’t we make EVs?’ as he refers to the product as ‘an iPhone with four wheels’. 

Since the company failed to produce an EV in previous years, due to the complexity of the build, it is now building up a vehicle supply chain with plans to expand into the EV manufacturing sector. The current leader and Gou’s successor, Young Liu, General Manager at Foxconn, is driving the development of factories in the United States and Thailand for EV manufacture. Liu also plans to supply its components, mechanical parts and software for 5% of EVs by 2025. 

Apple moves into Automotive Manufacturing 

As Foxconn is one of Apple’s major suppliers, it is likely it will be involved in Apple’s plans to enter the automotive market. Apple has been working on Project Titan, which has helped the company evolve and according to rumours, Apple it creating an all-electric vehicle for launch by 2028. Although a new venture for both companies, Foxconn already supplies components to other automotive companies, such as Tesla and BMW, and has also made a deal with Stellantis—the manufacturer of Fiat and Chrysler—while also working with Geely to develop software as well as complete vehicles.

Although not confirmed, it’s also rumoured that Apple is also having discussions with other major organisations that could potentially be involved in Apple’s automotive venture. 



For more manufacturing insights, check out the latest issue of Manufacturing Global Magazine.

Share

Featured Articles

The world’s biggest chipmaker bets big on renewable energy

Despite the struggle faced by chipmakers to reduce emissions, Taiwan Semiconductor Manufacturing is accelerating renewable energy adoption by 10 years

Uniqlo shakes up leadership amid global retail ambitions

Fast Retailing, the group behind Japan’s Uniqlo, overtakes Gap with soaring profits and is now eyeing accelerated global expansion with executive shakeup

What is the ESG strategy of Chinese automaker Geely Holding?

Chinese automotive giant Geely Holding released its 2022 sustainability report, so what is the car maker’s ESG strategy?

Top 10 best-performing CEOs in Singapore

Leadership & Strategy

Top 10 women behind India’s most successful tech startups

Leadership & Strategy

Top 10 best private members clubs in Singapore and Hong Kong

Leadership & Strategy