In March 4th, foreign media reported that Foxconn plans to build battery, battery pack and energy storage systems in southern Taiwan, China as part of its plan to enter the electric vehicle market. Foxconn aims to create a complete ecosystem to more control the supply of strategic materials related to electric vehicles. In addition, it is also reported that Foxconn will design and assemble electric buses at its Kaohsiung plant in addition to building a battery, battery pack and energy storage system factory.
Mr. Yangwei Liu, chairman of Foxconn, revealed that the goal of Foxconn's electric vehicle business is to achieve revenue of NT $1 trillion by 2026. By 2025, Foxconn's design and parts will account for 5% of the global electric vehicle market