Infrastructure + technology

Apple manufacturer Foxconn targets EV market

The manufacturer of iPhones and other leading tech is looking to grow its share in the booming EV market, it has been reported.
October 16, 2020_
James Evison
electric charger

The manufacturer of iPhones and other leading tech is looking to grow its share in the booming EV market, it has been reported.

Foxconn is aiming to provide around 10% of components or services to the global EV market by 2027 and it has been in talks with major manufacturers to supply technology, its chairman has claimed.

The firm is a major supplier to Apple, but is looking to grow into the EV market. It has already set-up a joint venture with Fiat Chrysler in January 2020 to build EV and internet-connected vehicles across China. But the company will focus on components and cross-working rather than building vehicles outright.

It is in talks with a number of manufacturers on such components, but has not announced what firms it will be potentially working with on the technology.

It said that it need to move fast to ‘grab market share’ and plans to build an ‘open platform’ to make key EV components, including battery and internet service solutions to vehicle manufacturers.

Additionally, Foxconn said it was planning to launch a solid-state battery for EVs by 2024 with a high capacity storage to improve on current batteries being bought to market.

Related content

car market
Electric Vehicles

European EV drivers remain loyal to brands for now but interest in Chinese-made cars rising

European electric vehicle (EV) drivers are showing strong signs of being loyal to their brands but this could be tested ...
Infrastructure + technology

Be.EV makes £2.5m investment in ultra-rapid charging hubs in London

National EV charging network Be.EV will invest over £2.5 million to deliver 30 150kW charging bays across London by the ...

Input your search keywords and press enter.

Be the first to know. Subscribe to our newsletter and never miss a story.

Our weekly newsletter delivers a round-up of the top stories from the sectors, along with our insight on the main events that week. Our highly engaged subscribers find our newsletter essential reading as a snapshot of what’s happening.