TAIPEI (Taiwan News) — Foxconn Technology Group, the world’s largest assembler of Apple iPhones and iPads, sees electric vehicles (EVs) as its next core business, Young Liu (劉揚偉), company chairman, said Thursday (Aug. 18).
While still producing smartphones in countries from China to India, the New Taipei City-based group has held talks and concluded agreements with businesses in Taiwan, Thailand, Indonesia, and the United States to pave the way for the production of electric buses and cars.
Liu told a business forum that the new focus on EVs formed part of the company’s plan to last at least 100 years. Sustainable development including earnings per share and environmental, social and governance factors would contribute to helping Foxconn achieve a successful second period of 50 years, he said.
While the group was able to manufacture 60% of phone parts by itself, it needed to pay attention to technological advances, sustainable management, and the disappearance of certain business sectors in order to survive, according to Liu.
He said that smartphone manufacturing had started a decline, leading the group to focus on EVs as its next major business, CNA reported. Nevertheless, the Foxconn chairman predicted that his company was likely to achieve a record sales volume of NT$6 trillion (US$199 billion) for 2022.