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Foxconn could manufacture its EVs in India

Foxconn has also set a target of offering components or services to 10% of the world's EVs by 2025 and 2027.

Taiwan tech giant - Foxconn, announced its entry into the electric vehicle segment earlier this week.

Now, according to reports, Liu Young-way, Chairman of Foxconn has stated that the company is open to manufacturing its EVs in Europe, India and Latin America.

Without revealing a timeline, Liu stated that Europe would be first, then India, followed by Latin America with Brazil being 'very possible'. He further stated that due to 'disclosure restrictions', Liu cannot disclose any of Foxconn's plans for India or Brazil.

Liu also stated that the company would use their BOL (Build, Operate & Localise) model, wherein the company will invest in partners to build and operate factories and sell to local customers.

The company recently introduced three battery-electric vehicle concepts, the Model C (SUV), Model E (sedan) and Model T (bus). Both the electric SUV and sedan are said to offer race-car level performance while providing a range of over 750 km on a single charge. The Model T bus, on the other hand, is said to come with a range of 400 km and have a top speed of 120 km/h.

Foxconn has also set a target of offering components or services to 10% of the world's EVs by 2025 and 2027 - diversifying its revenue stream. The Taiwan-based company is best known for making Apple's iPhones.

Source: Reuters

 
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