Foxconn wants to take 5% of the global electric car market by 2025

Electric Cars

The Chinese company Hon Hai Technology Group, which is actually better known as Foxconn, is mainly engaged in the production of various electrical products. Of course one of the most famous is definitely the iPhone. In order to start new campaigns recently, with the primary goal, which is the production of electric vehicles.

Foxconn is a factory in China that produces a large number of different electronic products. Among these, she is best known for the products she makes for Apple. But like any other Chinese factory, they produce a number of other products for world manufacturers. So they surprised many recently when they showed for the first time that they have the technology to produce electric vehicles such as cars or, say, buses. Made Chinese technology is advancing every day and it really doesn’t surprise us that they can produce everything under their direction.

Electric car market share

With the production of electric vehicles by around 2025, they intend to occupy as much as 5% of the world market. We have to admit that they have set a very serious goal. A goal that no one can achieve, in other words, it only proves that this is a very serious company.

According to the current situation in the world, many believe that the trend of switching to the use of electric cars will accelerate. That it is only a matter of time before most users in the world will use an electric vehicle. Therefore, Foxconn seriously intends to expand into the electric vehicle market.

Until recently, most of the revenue from electric cars came down to the sale of car parts. And of course, one part was about making money through software. While in terms of the sale of new electric vehicles, the profit was minimal. The company believes that such a situation will change soon. And because of such beliefs, they intend to produce between 600,000 and 700,000 electric vehicles a year.

According to available information, the mass production of Foxconn electric vehicles by the company will start only in 2024. They will even have factories in North America.

Foxconn model E specs

Therefore, we would like to say a few words below about the potential models that they would present on the market in the next few years. Namely, their first vehicle is called the Model E, which is a vehicle that can be family or business at the same time. The vehicle was designed by the Italian studio Pininfarina. Already, some are saying that this vehicle can be a mobile office, since it will have all the latest and most important smart technologies. One of the very interesting technologies is the automatic door opening. But let’s definitely not forget that the E model will have a power of 750 horsepower.

Which is certainly impressive for any vehicle, especially the electric one. Of the other technical features currently available. Acceleration from 0 to 100 km per hour will be within 2.8 seconds. And of course, as with all-electric vehicles, the most important item is certainly the range with one battery charge. Well, in this case, according to current information, with one charge, they could cross 750 km. In other words, you could cross larger distances without constantly stopping and recharging your vehicle’s batteries.

All in all, we will follow their further development over the years and we believe that we will soon be able to see their electric vehicles in action on the roads.

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