Foxconn’s Chairman, Young Liu, revealed plans to deliver over 10,000 electric SUVs this year, a venture undertaken through a partnership with Yulon Motors. The current focal point of their marketing efforts lies on the Model C SUV. Liu, speaking at a shareholder meeting on May 31st, announced intentions to expand production to include the mass production and international promotion of the crossover electric vehicle, Model B. Anticipating over 9,000 orders from Taiwanese customers for passenger vehicles, Foxconn expects to surpass 10,000 units in full-year sales. Collaborating with Yulon, they have already delivered 1,555 units of the jointly developed LUXGEN brand n7 electric vehicle in the first four months of the year. Looking ahead, Foxconn plans to unveil a prototype of the Model D multi-purpose passenger vehicle (MPV) in October.

Furthermore, Foxconn is venturing into the commercial vehicle market with the production of electric buses. The joint venture with Yulon commenced construction of a factory in Kaohsiung’s Qiaotou Science Park in mid-April, with completion scheduled for 2025. The initial production capacity targets 500 electric buses annually, scaling up to 1,000 units by 2028.

In terms of business strategy, Liu emphasized Foxconn’s commitment to an open electric vehicle production platform, intending to share technology with partners to reduce development costs and achieve economies of scale. Foxconn aims to play a significant role in contract design manufacturing services (CDMS) and supply chain management.