Foxconn, the world's largest contract electronics maker, said on Tuesday it was not in the business of selling its own electric vehicle (EV) brand but wanted its customers to sell EVs in large numbers by opening up the 'closed loop' of auto manufacturing.
Speaking at the company's annual Tech Day, Chairman Liu Young-way said that along with an industry alliance known as the Mobility in Harmony platform, Foxconn was "opening up the closed-loop nature of traditional automaking" to halve design times and slash development costs by a third."Foxconn is not in the business of selling its own EV brand. But, yes, we want our customers to sell a lot of EVs," Liu said in pre-recorded remarks.
The company has expanded into areas including EVs and semiconductors in recent years, announcing deals with U.S. startup Fisker Inc
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