Hon Hai Precision Industry Co’s (鴻海精密) new electric vehicle (EV) platform is expected to help launch vehicles later this year, chairman Young Liu (劉揚偉) said on Saturday, signifying major progress in the electronics giant’s push into the automotive industry.
Two light vehicles designed using the company’s MIH Open Platform would be unveiled in the fourth quarter, Liu told reporters at the company’s headquarters in New Taipei City’s Tucheng District (土城).
Hon Hai might at the same time also help launch an electric bus, he said.
Hon Hai has been seeking to expand its automotive capabilities at a time when technology companies including its customer Apple Inc are looking to expand into vehicles.
The company in October last year unveiled its first EV chassis and a software platform aimed at helping automakers bring models to market faster.
So far, 736 companies have joined the Hon Hai’s platform, Liu said.
He was optimistic about electric vehicle development worldwide, forecasting that 2024 would be a turning point, with several new electric models expected to be launched on the global market, Liu said.
Taiwan would face a critical moment in electric vehicle development over the next two to three years, he said.
Hon Hai last month set up a joint venture with Chinese automaker Zhejiang Geely Holding Group Co (浙江吉利).
Liu said that the venture is in talks with Chinese start-up Faraday Future (法拉第未來) and others on cooperation.
While Hon Hai forecasts that its revenue from automotive ventures would grow this year, Liu expects vehicle-related business to start making a meaningful contribution to the group’s overall sales only in 2023.
Separately, Liu said that an ongoing chip shortage has had only a limited impact on the company’s major customers and that it does not expect a trough this quarter, which is typically a low season.
Hon Hai would continue its efforts to acquire an 8-inch wafer facility, he said in response to Malaysian media reports that the company lost its bid for SilTerra Malaysia Sdn Bhd to another consortium.
Hon Hai still wants to secure a partnership with the Malaysian chipmaker, Liu said.
Meanwhile, Liu said that Hon Hai is likely to sign a new contract with the US state of Wisconsin by the end of June for the company’s investment in the state.
Talks between Hon Hai and the Wisconsin Economic Development Corp about a new contract have been proceeding smoothly, he said, without elaborating.
Additional reporting by CNA
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