Taiwanese manufacturer Foxconn showed off EV prototypes of a sedan, SUV and bus at an event. The project is called Foxtron and is a joint venture between Foxconn and Taiwanese car manufacturer Yulon Motors.
The EV sedan was designed in collaboration with Italian design firm Pininfarina, according to Reuters and will be sold to a previously unknown car brand outside of Taiwan. Foxconn also showcased an electric SUV and a bus at the event. The SUV is said to be sold on the Taiwanese market in 2023 by a subsidiary brand of Taiwanese Yulon Motors. According to Reuters, the bus will be deployed in several Taiwanese cities from next year in collaboration with a local transport company.
The two companies have not yet shared technical details about the EVs. Foxconn will not sell the two cars itself to consumers. Instead, the company wants to make the cars for other manufacturers, who can then sell the cars to customers with their own brands and logos.
“Within five years, this Foxconn division should be worth about $35 billion,” a Foxconn executive told the news agency. Foxconn has long wanted to expand its product catalog with electric cars. For example, Foxconn announced earlier this month that it plans to buy Lordstown’s car factory in the United States for 230 million dollars. With this acquisition, the company wants to build electric cars in collaboration with the American Lordstown Motors.