Foxconn’s EV-platform-developing arm called Mobility in Harmony (MIH)
Electric vehicles (EVs) are attracting interest from brands outside the automobile industry. Companies like Huawei, Oppo, and Xiaomi are looking to enter the EV market, leveraging their expertise in electronic and smartphone manufacturing. This trend is fueled by the integration of technology in modern vehicles.
A few years ago, Foxconn, the manufacturer of iPhones for Apple, expressed an interest in competing in the EV industry. Now, the company is exploring the possibility of manufacturing EVs in India.
What’s the Discussion About?
Foxconn launched the Mobility in Harmony (MIH) Consortium in 2021. MIH focuses on developing platforms for EVs. In a recent interview with Reuters, CEO Jack Cheng stated, “You build where the potential market is…In India or Southeast Asia, you have a huge volume opportunity right now.” He referred to India as a potential emerging power in the EV sector for the next generation.
In terms of production, Cheng mentioned that if a Foxconn plant is established in India, it would be the preferred option. However, if a local plant in India is more competitive, it would be given priority. He believes that India will play a crucial role in MIH’s long-term growth. Additionally, Foxconn has EV plans in other South-East Asian countries like Thailand, where it already has a joint venture agreement with a local company.
EV Plans Detailed
MIH is considering collaborating with its parent company or another company to build a new 3-seat EV known as Project X. The target price for this vehicle, which offers advanced technology, is below $20,000 (approximately Rs 16.5 lakh). The prototype is scheduled to be unveiled at Japan’s auto trade show in October 2023, with production starting in 2025. MIH also plans to launch 6-seater and 9-seater electric vehicles by 2024 and 2025 respectively.
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A Brief of Foxconn’s EVs
Foxconn Group and Yulon Group have collaborated to establish the Foxtron brand, which focuses on automotive development. In October 2022, Foxtron unveiled three electric car models: the Model B (hatchback), Model C (crossover SUV), and Model V (pickup). These models have claimed ranges of 450km and 700km. The electric powertrains for these vehicles have not been disclosed yet. Foxconn plans to utilize its platform manufacturing expertise to enable multiple models to use the same base platforms and components, while having unique shells for ease of mass production.
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