Foxconn, which is Apple’s largest manufacturer, is now gearing up for the launch of electric cars. The company has also unveiled its range of electric vehicles recently.
Read on to find out all the details about the new range of electric vehicles by Foxconn!
Foxconn To Launch Its Own Range Of Electric Cars
Taiwan based Foxconn Technology Group is the world’s largest assembler of iPhones and is now expanding its horizons into the electric vehicle segment.
As per Young Liu, Chairman of Foxconn’s flagship unit Hon Hai Precision Industry Co., “We are no longer the new kid in town. We have gradually built an EV supply chain and showcased our EV hardware.”
The company has recently unveiled an SUV and a sedan model recently and has stated that it will build for automotive customers rather than selling to customers under its own brand.
Foxconn and Wistron, which manufacture for Apple, have surpassed their year one (FY21) investment target of Rs 250 crore each and have also scaled up hiring.
Both hired 7,500 workers each after August 2020 which is when the smartphone PLI scheme became active.
We also reported that the Taiwanese multinational electronics contract manufacturer and assembler of Apple iPhones is planning to float an initial public offer (IPO) worth more than Rs 5,000 crore ($680 million) in India.
EV To Compete Against Tesla, Volkswagen, Hyundai?
The government’s push for electric vehicles is not unknown. So far, over 1,590 electric vehicles (EV) have been deployed or under deployment in more than 160 central and state government departments in 49 cities as part of the e-Mobility program.
In fact, thirteen states in the country including Andhra Pradesh, Delhi, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, Meghalaya, Gujarat and West Bengal have approved or notified dedicated EV policies to promote the adoption of electric vehicles.
Yulon Motor Co. will be the first electric-car customer for Foxconn and will compete against the likes of some of the biggest players across the world like Tesla, Volkswagen and Hyundai.
NHAI will now be setting up charging stations for electric vehicles in various stations. This is another scheme by the government to promote electric vehicles across the country.
Additionally, this is also a part of the government’s plan of real estate development along the national highways across India.
Recently, the ministry of road transport and highways issued a draft notification that proposes to exempt the vehicles operated by battery from paying the fees or issuing or renewal of registration certificate (RC).
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