Foxconn Know-how Group’s new EV platform is predicted to assist launch automobiles later this yr, an organization official stated, signifying main progress within the Taiwanese electronics big’s push into the automotive area.

Two mild automobiles designed utilizing Foxconn’s platform shall be unveiled within the fourth quarter, Chairman Younger Liu of Foxconn’s flagship unit Hon Hai Precision Business Co. instructed reporters on the firm’s headquarters in suburban Taipei on Saturday. The corporate might also assist launch an electrical bus across the similar time, he stated.

Foxconn has been looking for to strengthen its automotive capabilities at a time when know-how corporations together with its buyer Apple Inc. wish to develop in automobiles. Foxconn in October unveiled its first-ever EV chassis and a software program platform aimed toward serving to automakers convey fashions to the market sooner.

Additionally learn: Apple in talks to buy self-driving sensors, key step in car plan

The corporate arrange a three way partnership with Chinese language carmaker Zhejiang Geely Holding Group Co. final month. Liu stated the enterprise is at present in talks with startup Faraday Future and others on cooperation on EVs. Whereas Foxconn will see income from automotive ventures develop this yr, Liu expects EV-related enterprise to start out making a significant contribution to the group’s total gross sales solely in 2023.

Individually, Liu stated an ongoing chip scarcity has solely restricted impression on the corporate’s main clients and that it doesn’t count on a trough this quarter, which is usually a off-season.

Foxconn will proceed its efforts to accumulate an 8-inch wafer facility, Liu added, after Malaysian media shops reported earlier that Foxconn shedding its bid for SilTerra Malaysia Sdn. to a different consortium. Liu stated Foxconn nonetheless desires to safe a partnership with the Malaysian chipmaker.

Written by Debby Wu and Annie Lee.

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