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honhai.com

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Investments

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Partners & Customers

3

About Hon Hai Precision

Hon Hai Precision Industry Co., Ltd. does business as Foxconn Electronics in the U.S.

Hon Hai Precision Headquarter Location

2 Tzu Yu Street Tu-Cheng City

Taipei,

Taiwan

886 2 22683466

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Latest Hon Hai Precision News

Apple Assembler Foxconn’s Electric Vehicle Plans Start To Take Shape

Oct 21, 2021

Visual China Group via Getty Images Foxconn, best known for assembling electronics, has been actively announcing partnerships and plans to produce electric vehicles for over a year. Now that plan is taking shape, as the company unveiled three EV models earlier this week. Foxconn, founded by Taiwanese billionaire Terry Gou , introduced on Monday its Model C sports utility vehicle, Model E sedan and Model T electric bus. Foxtron, a joint venture between Foxconn and Taiwan-based automaker Yulon Motor, will make the cars, the company said in a live-streamed event Monday. “Terry Gou has always believed that the adoption of electric vehicles would inevitably be a global trend by the simple fact that it has become the world's largest and most expensive smart electronic device,” Foxconn said in a statement on Monday. Gou drove a Model E car at the live-streamed event. A share of the global EV market should easily fall to Foxconn now because the three EV models follow a string of related joint ventures since 2014, analysts say. Those endeavors give the firm expertise that it can combine with its giant factory infrastructure in Asia, they say. It has entered deals, for example, with U.S.-based EV startup Fisker and Chinese automaker Geely . A venture with Stellantis allowed Foxconn to develop automotive cockpit software and another, with Gigasolar Materials , gave it expertise in EV batteries and their components. MORE FOR YOU “Foxconn has been very cautious regarding its entry into the EV market,” says Soumen Mandal, an automotive-focused analyst with Counterpoint Research. “If we follow the roadmap, we can see that Foxconn is slowly entering the EV market by making JV and partnerships in one segment at a time, gathering knowledge and then moving to the next.” Terry Gou, founder of Foxconn, second left, embraces Young Liu, chairman of Hon Hai Precision, after ... [+] stepping out of the Foxtron concept electric sedan during its unveiling at the Hon Hai Tech Day event in Taipei, Taiwan, on Monday, Oct. 18, 2021. I-Hwa Cheng/Bloomberg Over the past year, the company has averaged one partnership announcement per month, in turn “creating a Hon Hai electric vehicle supply chain and distribution network,” Chairman Young Liu said in a company statement. He says Foxconn, formally Hon Hai Precision, now has an “electric vehicle supply chain and distribution network.” Southeast Asian consumers will probably form Foxconn’s first market for own-brand EVs, Mandal says. The manufacturer already has goodwill in Southeast Asia, he notes, “and the competition with mainstream players will be relatively less.” In the West, he adds, Foxconn would “slowly penetrate.” But Foxconn may be keener to market its open EV hardware-software platform that makes motors, batteries and electronics for third parties, says Sam Abuelsamid, Michigan-based principal research analyst at research firm Guidehouse Insights. He says Foxconn would use its three new EV models to “demonstrate” the platform. “There are many startups globally that are trying to break into the EV and autonomous vehicle markets, especially in China, and most don’t have the resources to engineer or manufacture a full vehicle,” Abuelsamid notes. “Foxconn wants to leverage its scale to enable these companies to get up and running, eventually becoming a major contract manufacturer of vehicles just as it is for consumer electronics already.” “Foxconn definitely has expertise in managing supply chains, especially in China,” he adds, “and it understands how to build electronic devices in huge quantities.” Follow me on  Twitter .

Hon Hai Precision Investments

1 Investments

Hon Hai Precision has made 1 investments. Their latest investment was in Playground Global as part of their Unattributed VC on March 3, 2015.

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Hon Hai Precision Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/31/2015

Unattributed VC

Playground Global

$48M

Yes

Google, Hewlett-Packard, Redpoint Ventures, and Undisclosed Investors

3

Date

3/31/2015

Round

Unattributed VC

Company

Playground Global

Amount

$48M

New?

Yes

Co-Investors

Google, Hewlett-Packard, Redpoint Ventures, and Undisclosed Investors

Sources

3

Hon Hai Precision Partners & Customers

3 Partners and customers

Hon Hai Precision has 3 strategic partners and customers. Hon Hai Precision recently partnered with Stellantis on May 5, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

5/18/2021

Partner

Stellantis

Netherlands

Stellantis, Foxconn to Develop Breakthrough Digital Cockpits and Personalized Connected Services with Mobile Drive Joint Venture

`` With this partnership , we will push the boundaries in connected car technology and bring immersive experiences yet to be imagined , '' said Yves Bonnefont , Chief Software Officer at Stellantis NV .

1

5/12/2021

Partner

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10

9/28/2020

Partner

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10

Date

5/18/2021

5/12/2021

9/28/2020

Type

Partner

Partner

Partner

Business Partner

Stellantis

Country

Netherlands

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News Snippet

Stellantis, Foxconn to Develop Breakthrough Digital Cockpits and Personalized Connected Services with Mobile Drive Joint Venture

`` With this partnership , we will push the boundaries in connected car technology and bring immersive experiences yet to be imagined , '' said Yves Bonnefont , Chief Software Officer at Stellantis NV .

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Sources

1

10

10

Hon Hai Precision Team

1 Team Member

Hon Hai Precision has 1 team member, including current Chief Executive Officer, Terry Gou.

Name

Work History

Title

Status

Terry Gou

Chief Executive Officer

Current

Name

Terry Gou

Work History

Title

Chief Executive Officer

Status

Current

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