Foxconn this week launched an open technology platform designed to help electric vehicle (EV) manufacturers cut costs and speed up the launch process. Already one of the world’s biggest contract electronics manufacturers, the Taiwanese group now aims to become ‘the Android of EVs’ and has set its sights on capturing a 10% share of the EV component component.
Speaking this Friday, Foxconn chairman Young Liu said that the group’s open platform would allow it to share important software and hardware designs – ranging from solid-state batteries to data management tools – across an ‘ecosystem’ of developers and manufacturers. By the time Foxconn reaches its 10% target in 2027, the global EV market is expected to have reached a production rate of 30 million vehicles each year, Young predicted; and, according to Market and Markets, units sold will be close to 27 million by 2030 at a CAGR of 21.1% over the next decade.
Previously known as Hon Hai Precision (which is still its trading name) Foxconn does not intend to produce entire cars or create its own brand. Instead, according to Young, it is already in talks with a number of automakers and is expected to announce several JVs in the near future. It currently has an EV tie-up with Yulon, Taiwan’s largest automaker and foresees a JV with Fiat Chrysler, which was agreed in January, to be formally set up by early next year.
“We hope to apply our experience in supply chain management in the information and communications technology industry over the past 30 to 40 years to this new area,” he added.