iPhone Manufacturer Enters Electric Vehicle Industry Aiming to Produce 250,000 Affordable Electric Cars Per Year

The Taiwanese Foxconn, Responsible for Manufacturing the iPhone, Consoles, and Various Electronic Parts, Has Closed a Partnership with Fisker to Enter the Electric Car Industry

The iPhone manufacturer, Foxconn, has partnered with Fisker, a U.S. company, to enter the automotive industry and create a new popular electric car that will cost up to 30 thousand dollars (US$ 30,000). According to Foxconn and Fisker, forecasts are for the production of 150,000 units by the end of 2023 and, for the following years, production of electric cars could rise to 250,000 units.

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The Development of Electric Cars by the iPhone Manufacturer

All development for Foxconn’s entry into the electric car industry will be the responsibility of Fisker, which has previously worked with BMW, Ford, and Aston Martin. However, the manufacturing of the electric cars will take place in the United States, by the iPhone manufacturer. In addition to North America, Project Pear is expected to reach Europe, India, and China, marking the Taiwanese entry into the automotive industry.

Liu Young-way, president of Foxconn, recalled the global semiconductor chip crisis, which has affected the entire current electric vehicle industry and ensured that, due to the global supply chain working with the company, there will be no shortage of components on the assembly lines.

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The Coordination of Operations

To coordinate operations between Taiwan and the United States, the iPhone manufacturer has created a joint office to handle engineering, manufacturing, and procurement.

According to Fisker, Project Pear promises to rethink the electric car regarding design, user connectivity, proportions, and features. It is worth noting that Fisker was one of the first electric car startups to go public through a reverse merger, when publicly traded companies are acquired by private companies to evade the IPO.

Get to Know Foxconn

As one of the largest electronic component manufacturers in the world, Foxconn produces various integrated circuits and is also known for developing parts for Apple’s iPhones and iPads, game consoles such as PlayStation 3, Xbox 360, and Nintendo Wii.

The company was founded in 1974, headquartered in Taiwan. In Brazil, it has production lines and factories in the cities of Manaus, Jundiaí, Indaiatuba, Santa Rita do Sapucaí, and Sorocaba. Additionally, it employs nearly a million workers worldwide.