There have been rumors of an Apple electric car project. The Cupertino-mobile remains a myth almost a decade after it was leaked. On the other side of the world, people will soon be able to order a vehicle from a Taiwanese company that manufactured Apple products in China. The era of the mobile phone.
Hon Hai Technology Group, better known internationally as Foxconn, announced plans to produce three of its own electric vehicles under the name Foxtron. To become the manufacturer of choice for a completely new kind of car, Foxconn wants to be the same company as Apple. It has signed deals to make cars for two US based EV companies.
The consumer electronics manufacturer has its own vehicles but they don't look like Apple-chic. There is a bigger shift across the auto world in terms of technology. The US, Europe, and Japan define what cars are. With the changing nature of the automobile, China may be able to decide what car is made.
China would become an automotive epicenter capable of beating the US, Germany, Japan and South Korea if a major auto-making business is built by Foxconn. Requests for an interview were not responded to by the company.
Big changes are expected in the automobile industry. According to a McKinsey report in October 2020, carmakers will use apps and subscription services to make money. The car of the future sounds very similar to a phone.
A professor at IESE Business School in Barcelona who studies the automotive industry says there is no better time for an electronics manufacturer to make cars. There are fewer components and steps involved in the assembly of an electric vehicle. One of the core competencies of established carmakers is the simplicity of the EV supply chain. China has a strong EVecosystem from batteries to software and even the manufacturing of components.
China is in a good position to lead the charge. The country already has some of the world's most advanced battery manufacturers, including CATL and BYD. In the same way that software companies benefit from being close to chip design firms, carmakers in the region may gain an edge in understanding and exploiting new battery technologies.
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