Horizon Plus - a Foxconn-PTT JV - breaks ground for a new EV plant in Thailand

Foxconn (Hon Hai Technology Group) will acquire a 50-percent stake in ZF Chassis Modules GmbH, a unit of ZF Group which bundles the passenger car axle systems assembly and has an enterprise value of approximately €1 billion (approximately US$1.1 billion), enabling a strategic partnership that will further grow opportunities for ZF Chassis and widen new perspectives for Foxconn in the automotive sector. The...

25 July 2023

Stellantis and Hon Hai Technology Group (Foxconn) announced the creation of SiliconAuto, a 50/50 joint venture dedicated to designing and selling a family of state-of-the-art semiconductors to supply the automotive industry, including Stellantis, starting in 2026. The joint venture combines Foxconn's development capabilities and domain expertise in the ICT industry with Stellantis’ deep understanding of diverse...

21 June 2023

Yesterday, Hon Hai Precision Industry Co. a.k.a. Foxconn unveiled its EV model rollout plan at the Taipei International Automotive Electronics Exhibition. As a major exhibitor, Hon Hai exhibited a number of key components for electric vehicles, including an EPS electric power steering system, a solid-state battery for passenger cars, electronic control system, silicon carbide (SiC) components, and other hardware...

13 April 2023

The Foxconn-initiated MIH Consortium announced Project X, an open and agnostic EV Platform for the innovators, by the innovators. MIH is lowering the entry barrier for companies entering the electric vehicle market to customize vehicles based on their needs. To make it easier for partners and potential customers to understand the open and agnostic nature of MIH and to realize technologies developed by the MIH...

8 November 2022

Lordstown Motors and Foxconn announced that they reached an agreement pursuant to which Foxconn agreed to make additional equity investments in Lordstown Motors in the form of $70 million of LMC's Class A common stock, $0.0001 par value per share, and up to $100 million of a newly created Series A Convertible Preferred Stock, $0.0001 par value per share. Upon completion of the Investment Transactions, Foxconn is...

8 November 2022

Hon Hai Technology Group ("Foxconn") announced two, new self-developed electric vehicles at its third annual Hon Hai Tech Day (HHTD): the Model B crossover hatchback and the Model V all-terrain, electric pickup. At the same time, Hon Hai showcased for the first time its self-developed HHEV.OS electric vehicle software platform, which can meet the highest vehicle safety level of software design, greatly reducing the...

18 October 2022

Yesterday, Foxconn (Hon Hai Technology Group) held a groundbreaking ceremony for the Hon Hai Battery Cell Research & New Product Introduction Center at the Hofa Industrial Park in Kaohsiung City, Taiwan. The company will invest at least NT$6 billion (US$202 million) in this battery cell R&D center. The battery production unit is planned to have an annual production capacity of 1GWh in 2024. The cells manufactured...

16 June 2022

Lordstown Motors announced that it has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group (Foxconn). As previously disclosed, on November 10, 2021, Lordstown Motors and Foxconn entered into an Asset Purchase Agreement ("APA") providing for the sale of LMC's Lordstown, Ohio vehicle...

12 May 2022

Fisker confirmed that it will produce its second vehicle, the Fisker PEAR, at a factory Foxconn (Hon Hai Precision Industry Co. Ltd.) acquired in Ohio. The Fisker PEAR will enter production in 2024. Both the Fisker and Foxconn teams are fully engaged and expect to build a minimum of 250,000 Fisker PEAR units a year at the plant after a ramp-up period. The Fisker PEAR follows the company’s first vehicle, the Fisker...

12 May 2022

Fisker is now accepting reservations for its second product, the Fisker PEAR, opening the door to the Personal Electric Automotive Revolution. The all-electric Fisker PEAR blends sustainability, technology, and design into a digitally connected, compact, five-passenger urban EV. Featuring intuitive controls, sporty driving, clever storage, and a focus on industry firsts, the Fisker PEAR will start at $29,900 before...

15 February 2022

Stellantis and Foxconn (Hon Hai Technology Group) announced the signing of a non-binding memorandum of understanding to create a partnership with the intent to design a family of purpose-built semiconductors to support Stellantis and third-party customers. This partnership was announced as part of the Stellantis Software Day 2021 event where the Company unveiled STLA Brain, the new electrical/electronic and software...

7 December 2021

Pininfarina is back at the International MotorXpo Hong Kong. Making its official debut at an Auto Show will be the electric Model E sedan designed for Hon Hai Technology Group (Foxconn), on display from 1 to 5 December in the Designer Zone at the AsiaWorld-Expo. The Model E, first step of an important strategic collaboration that will continue for the future between Pininfarina and Hon Hai, is a technologically...

1 December 2021

Hon Hai Technology Group (Foxconn) introduced for the first time, three autonomously developed electric vehicles under the Foxtron brand: the Model C recreational vehicle, the Model E sedan, and the Model T electric bus. The announcement was made during the live-streamed Hon Hai Tech Day 2021 (HHTD21) event, underlining Hon Hai's commitment to becoming a global next-generation automotive manufacturer. The Model C is...

19 October 2021

Lordstown Motors Corp. and Hon Hai Technology Group (Foxconn) announced that they have reached an agreement in principle to work jointly on Lordstown Motors' electric vehicle programs in Lordstown Motors' 6.2 million square foot production and assembly plant in Lordstown, Ohio. Beyond certain customary provisions, the Agreement is non-binding and subject to the negotiation and execution of definitive agreements. The...

1 October 2021