Foxconn cars powered by both hype and substance

Yulon Motor Co

19/10/2021 03:45

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Robyn Mak
    HONG KONG, Oct 19 (Reuters Breakingviews) - The $53 bln
iPhone-maker showcased its first electric-vehicle prototypes as
part of an ambitious pivot into autos. Founder Terry Gou's track
record of overpromising is enough to warrant doubt. Look past
the fanfare, though, and there's much to like about Foxconn's EV
progress.
    Full view will be published shortly.
    Follow @mak_robyn https://twitter.com/mak_robyn on Twitter 
    
    CONTEXT NEWS    
    - Taiwan's Hon Hai Precision Industry, also known as
Foxconn, on Oct. 18 unveiled three electric-vehicle prototypes.
The cars were manufactured by Foxtron, the company's joint
venture with Taiwanese carmaker Yulon Motor. 
    - Foxtron Vice Chairman Tso Chi-sen said he hoped EVs would
be worth T$1 trillion ($35.7 billion) to Foxconn in five years,
according to Reuters.
    -  Foxconn, which is the world's biggest electronics
contract manufacturer, wants to provide components or services
for 10% of the world's EVs by 2027.

 (Editing by Antony Currie and Katrina Hamlin)
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