Foxconn, the world’s largest electronics contract manufacturer, hopes to capture 5 per cent of the global EV market by the end of 2025.
The company is rapidly expanding their EV footprint and wants to produce between 500,000 and 750,000 EVs per year by 2025.
Through a partnership with Yulon Motors, Foxconn unveiled three EV prototypes in 2021.
The prototypes are under the Foxtron brand and include the Model E luxury sedan, the Model C SUV and the Model T EV transit bus.
According to the company, the Model E will have a 750 km range and hit 0-100 km/h in under three seconds.
While the Model C will have a 700 km range and hit 0-100 km/h in under four seconds.
Further to this, Foxconn is planning to open two production facilities.
The first will be in Thailand and is a joint venture with state-run oil and gas company PTT.
This plant will develop the platforms for the EVs and produce components.
It is not fully clear when the Foxtron vehicles will go into production. However, as per reports, it could be as early as this year.