Foxconn to design, build EVs for two Japanese brands

Foxconn to sign agreement with two brands from Japan

Foxconn is the world’s largest contract electronics maker. In the tech industry, the company is best known for manufacturing products such as the Apple iPhone. But lately, Foxconn has ventured out towards building electric vehicles.

Most recently, the company even expressed interest in working with Nissan as the latter tries to recover from its struggles. But now, Foxconn chairman Young Liu has revealed they will indeed be working with not just one, but two Japanese companies in making EVs.

According to a report by Focus Taiwan, Chairman Liu said Foxconn is set to sign agreements with “two Japanese clients” in two months, with the business model being somewhat similar to how they do it with Apple and the iPhone.

Under the contract design and manufacturing services (CDMS) business model, Foxconn will be the one responsible for the majority of the design and building of the electric vehicle while the “Japanese company” will focus on marketing and sales of the product.

While Foxconn did not specify the two Japanese companies it is working with, the Taiwanese contract manufacturer formally known as Hon Hai Precision Industry Co could be a solid partner for Nissan, especially with former Nissan executive Jun Seki leading Foxconn’s EV division.

Apart from the upcoming tie-up with Japanese companies, EVs based on Foxconn’s Model C SUV are scheduled to begin production for the US market this year.