We finally know what a car made by an iPhone manufacturing company would look like. But it remains to be seen if the three models unveiled by Hon Hai Technology Group, better known as Foxconn, will make it to market.
Foxconn unveiled two vehicles models at an Oct. 18 event in Taiwan: the Model B crossover and Model V pickup. Founder Terry Gou, 72, introduced the Model B by driving it onto the stage, Bloomberg reported. The pickup will be produced in Taiwan, Thailand and the U.S., Hon Hai Chairman Young Liu said.
Foxconn first announced its interest in developing electric, autonomous vehicles a year ago. While the electronics company lacks experience in making cars — see its reference to a fast startup within three years for an idea of its exposure to the auto industry pace of new products — but Young-way said that it wants to "replicate its success."
"Based on our past records for the PC and cellphone markets ... we're at about 40-45 percent of the overall market share," he said in a report from Reuters. "So, ambitions-wise, hopefully we are able to achieve the same kind of achievement like in the ICT (information and communications technology) industry, but we will start small, which is about 5 percent in 2025."