During an earnings call on May 14, Foxconn unveiled updates on its electric vehicle (EV) strategy, semiconductor ambitions, and new partnerships.
Chairman Young Liu highlighted the company's recent collaboration with Mitsubishi Motors, stating that it took one year from initial engagement to signing a memorandum of understanding (MOU). Discussions are also ongoing with other carmakers, though Liu emphasized that formal announcements will come only when agreements are finalized.
As part of its EV business strategy, Foxconn plans to support Mitsubishi Motors in marketing and selling models designed by its subsidiary, Foxtron Vehicle Technologies, in the Oceania region. This aligns with Foxconn's previously stated goal of securing orders from traditional automakers, which is one of three milestones in its EV roadmap. Liu expressed hope that the Mitsubishi partnership would open the door for further collaborations with legacy automakers, especially those in Japan.
On the product front, Liu confirmed that Foxconn's Model B is expected to enter mass production in the second half of 2025. In tandem with its vehicle push, Foxconn's Kaohsiung Hefa plant has now reached mass production capabilities for EV batteries and is supplying samples to customers for testing. The company is coordinating with local electric bus and commercial vehicle projects to meet annual EV localization goals.
In semiconductors, Liu underscored the company's progress in next-generation silicon carbide (SiC) MOSFETs, which aim to significantly boost power conversion efficiency and reduce energy loss. Mass production for these chips is also scheduled for the second half of 2025. The acquisition of the Fukuyama wafer fab in Japan further supports Foxconn's semiconductor expansion, with the goal of diversifying its manufacturing services and decentralizing production operations.
Foxsemicon Integrated Technology Inc., Foxconn's semiconductor equipment arm, recently announced plans to acquire a 51% stake in FairTech. Liu believes this will position Foxconn for future growth in the aerospace and drone sectors. The company plans to integrate industrial technologies across divisions to unlock new application possibilities and broaden its market reach.
Article edited by Joseph Chen
