Foxconn aims to supply to about 3 million electric vehicles by 2027

Foxconn Chairman Liu Young-way. (Reuters)
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Updated 17 October 2020

Foxconn aims to supply to about 3 million electric vehicles by 2027

  • Foxconn is planning to launch its solid-state battery for EVs in 2024, which is a high-capacity energy storage device that improves on current batteries

TAIPEI: Foxconn aims to provide components or services to 10 percent of the world’s electric vehicles (EVs) by between 2025 and 2027, and has been in talks with multiple car manufacturers for future cooperation, Chairman Liu Young-way said on Friday.
The Taiwanese contract manufacturer, formally called Hon Hai Precision Industry and a major supplier to Apple, is looking at growth from sectors such as EVs, digital health and robots in a drive to diversify its global investments. “We want to push Taiwan’s EV industry to the world,” Liu said in Taipei.
In January, automaker Fiat Chrysler said it has plans for a joint venture with Foxconn to build electric cars and develop Internet-connected vehicles in China.
“Hon Hai has to ready our open platform as soon as possible. We need to move fast to grab market share,” he said, referring to Foxconn’s pledge to build an “open platform” to make key EV components including battery and car-Internet services available to automobile makers.

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Foxconn is planning to launch its solid-state battery for EVs in 2024.

Foxconn will work with multiple auto makers to reach the goal of 10 percent global EVs, Liu added, representing around three million vehicles.
Liu, however, declined to provide a revenue target for the EV business or details citing “ongoing talks.”
Foxconn is planning to launch its solid-state battery for EVs in 2024, which is a high-capacity energy storage device that improves on current batteries.
Foxconn’s Taipei-listed shares closed up 0.6 percent on Friday, outperforming the broad market, which ended 0.6 percent weaker.
Liu has said earlier this year that Foxconn was working to build supply chains in China and the United States, amid a years-long drive to diversify its investments around the world.

 


US to sue Google in biggest antitrust case in decades

Updated 20 October 2020

US to sue Google in biggest antitrust case in decades

  • The move comes after months of investigations by federal and state antitrust enforcers

WASHINGTON: The US government was preparing to sue Google Tuesday in what would be the biggest antitrust case in decades, media reports said.
The Wall Street Journal and New York Times said the Justice Department suit will accuse the California tech giant of illegal monopoly behavior to preserve its dominance in Internet search and advertising.
The move comes after months of investigations by federal and state antitrust enforcers seeking to check the power of the massive technology firm and parallel probes into other giants such as Amazon, Facebook and Apple.
It was not immediately clear what remedy the government was seeking in the suit, which could take years to resolve. But it could force changes in business practices or break off segments of the Google empire.
The Justice Department had no immediate comment but scheduled a briefing for media later Tuesday. Google did not immediately respond to a request for comment.