iPhone Maker Foxconn Invests In Electric Vehicle Production

3 years ago by Eric Loveday 7

iPhone?

iPhone?

Hon Hai Logo

Hon Hai Logo

Hon Hai Precision Industry (aka Foxconn) is the world’s largest electronics maker.  Most notably, Foxconn is the company responsible for assembly of all iPhones and iPads.

Well, its seems that Foxconn now wants in on this BIG electric vehicle boom.

According to Want China Times:

“Foxconn will invest in electric cars in the coal-rich Shanxi province in north China.”

The goal for Hon Hai is to manufacture cheap electric vehicles that sell for less than $15,000 USD.  Most likely that implies neighborhood electric vehicles (NEVs), or low-speed EVs.

Hon Hai founder Terry Gou stated:

“The development and manufacturing of new energy vehicles is embracing a golden opportunity.”

According to Gou, Hon Hai will increase its investment in Shanxi by 5 billion yuan ($810 million USD) by the end of 2014.  This investment will be to set up for electric vehicle production.

Why the focus on EVs in Shanxi?  According to Want China Times, the reason is simple:

“Shanxi has produced 14 billion tons of coal since 1949, accounting for a quarter of the country’s total output, causing pollution and resource exhaustion problems.”

This pollution problem will be countered by EVs, as well as the implementation of cleaner forms of energy.

Source: Want China Times

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7 responses to "iPhone Maker Foxconn Invests In Electric Vehicle Production"

  1. Doug B says:

    How is the pollution problem going to be countered by vehicles using coal generated electricity. Hopefully they are investing heavily in wind and solar, otherwise its moving from dirty diesel to dirty coal?

    1. Surya says:

      Because even then there is less pollution. Simply because EVs need a lot less energy to do the same.

    2. Djoni says:

      Just think of the massive use of electricity to produce gasoline and it’s pretty simple to sort everything straight.
      Making gaz is using more gaz and elctricity to make it and making electricity, event dirty one, is removing some burning or energy out of the process anyway.

  2. Grumpy says:

    I think the analysis is all wrong. Foxconn operates on razor thin margins, so a larger percentage of the selling price can actually go into the final product. Combine a top-notch manufacturer with declining battery prices and you will probably have a company that makes much more than a 15,000$ NEV (golf cart). My bet would be a Leaf’ish car with 120 mile (200km) range.

  3. James says:

    I just hope they build an EV that doesn’t bend when you place it in your garage! 🙂

    1. Scramjett says:

      Hah, I was wondering if someone would find a way to slip in a bending iPhone joke.

      1. James says:

        🙂 < Android guy – I admit it.