Hon Hai unveils 2 new EV models on Tech Day

Taipei, Oct. 8 (CNA) Taiwan-based manufacturing giant Hon Hai Precision Industry Co. introduced two new electric vehicle models Tuesday on its annual Tech Day.

Named Model D and Model U, the two electric vehicles were designed for different purposes, as one is a car that is a hybrid utility vehicle (SUV) and Multi-Purpose Vehicle (MPV), while the other is a mid-sized bus, according to Hon Hai.

The Model D, crafted in collaboration with Italian car designer Pininfarina, as a Lifestyle Multipurpose Utility Vehicle (LMUV), is equipped with a pneumatic suspension system to improve driving stability, said Hon Hai, which is also known globally as Foxconn.

The Model U is a mid-sized bus that elaborates on the innovative design of the award-winning Model T full-sized e-bus model, which was launched in 2021, the company said.

The new design of the Model U caters for narrow urban lanes and remote areas, has a clean and simple appearance, and large windows, all of which embody flexibility and multi-functionality, Hon Hai said.

Hon Hai, known primarily as an iPhone assembler, has been breaking into the EV market in recent years, and prior to its latest designs had introduced six EV models.

The SUV Model C, the sedan Model E and the Model T e-bus designs were released in 2021; the urban car Model B and the pick-up Model V in 2022; and the Model N electric cargo van prototype in 2023.

Hon Hai heads the Mobility in Harmony (MIH) Consortium, an EV open platform that was launched in 2021 as part of the company's efforts to enter the EV market and is now central to its goal of becoming the "Android of the electric vehicle industry."

Foxtron Inc., a joint venture between Hon Hai and Taiwanese automaker Yulon Group, is now producing n7 EVs under the Luxgen brand -- a Yulon subsidiary -- based on the Model C.

In the first eight months of 2024, Luxgen delivered 5,115 n7s, and its monthly delivery is expected range between 1,000 and 1,200 units in the fourth quarter.

At Tuesday's Tech Day event, Foxtron CEO Andy Lee (李秉彥) said the company is aiming to introduce Model C electric vehicles in the United States market at the end of 2025.

Also speaking at the Tech Day event, Hon Hai and Foxtron Chairman Young Liu (劉揚偉) said one of Hon Hai's goals is to build a comprehensive EV portfolio and a green supply chain, based on its solid manufacturing capabilities and utilizing artificial intelligence applications to strengthen smart manufacturing.

In recent years, Hon Hai has intensified its efforts in EV development as part of its "3 plus 3" strategy to diversify from contract manufacturing into hardware and software capabilities.

The initiative covers three emerging industries -- electric vehicles, robots and digital health care -- which the company said it is developing via AI, semiconductor and communications technologies, with EVs as the core business.

Speaking with reporters on the sidelines of Tech Day, Liu said battery production is the major cost in Hon Hai's EV efforts, so the company is planning to extend the functions of its EV battery plant in Kaohsiung to include an energy storage system (ESS).

Hon Hai has also teamed up with Bill Gates's Breakthrough Energy Ventures (BEV), an investor-led fund, to work on new energy development, Liu said.

Its partners in EV and energy storage development will also include GE Vernova, BMW i Ventures and Our Next Energy, he said.

In addition, Liu said, Hon Hai plans to enter the aerospace industry to build the next generation communications network.

The company on Tuesday announced a partnership in aerospace cooperation with France-headquartered Thales Alenia Space (TAS), which provides pace-based systems, including satellites and ground segments, for telecommunications, navigation, earth observation, space exploration and scientific purposes.

The two enterprises will work together on the development of low orbit satellites, to meet demand for communications applications in the 6G era, Hon Hai said.