Apple supplier is about to take 10% of the global electric vehicle market

Apple supplier is about to take 10% of the global electric vehicle market

October 16, 2020 0 By autotimesnews

Taiwan-based Foxconn aims to supply components for 3 million electric vehicles by 2027

Taiwanese electronics manufacturer Foxconn, known primarily as a leading component supplier and assembler for Apple, has announced its intention to enter the electric vehicle market, Reuters reported.

We are talking about the production of batteries and batteries, as well as communication modules that allow cars to be connected to the Internet. In addition, Foxconn promises to start producing its own solid-state batteries in 2024.

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The company’s plans are very ambitious. By 2027, the concern intends to produce components for 3 million electric vehicles annually and in 2025-2027 to occupy 10% of the global electric car market.

Previously, there were many rumors that Apple is also developing its own electric car, or at least is ready to create and sell the necessary technology to other automakers. However, over time, Apple increasingly began to deny such information.

It is possible that some preliminary developments were actually carried out together with partners. As a result, Apple abandoned the project, and Foxconn now wants to make money on joint developments independently.