At Taiwan Virtual Conference 2021, hosted by the UBS, Foxconn’s CEO Young Liu laid out the company’s development roadmap for the first time, especially Foxconn’s electric vehicle (EV) strategy.
In his keynote speech, Liu identified the four pillars that underpin Foxconn’s future development, namely EV, EV software, semiconductor and Hon Hai Research Institute.
Four Platforms, Four Strategies
When it comes to EV, according to Liu, Foxconn has been planning four cooperation platforms, each of which supports a strategy.
The first platform aims to facilitate cooperation between Foxconn and other brands, especially those in other countries. Foxconn has just announced partnership with Thailand’s largest conglomerate to develop EVs. Last month, Foxconn also set up a joint venture with the European carmaker Stellantis to develop in-vehicle infotainment system, telematics and cloud service.
The second platform relies on Foxconn’s core competence – contract manufacturing. As the world’s largest electronics contract manufacturer, Foxconn intends to carry this advantage into the EV industry by designing and manufacturing EV components. It is worth nothing that Foxconn has made several moves to strengthen its position in the EV battery sector, including cooperating with Taiwan’s Formosa Plastics Group and Giga Solar Materials to develop next-generation EV batteries.
Foxconn’s third platform, meanwhile, will focus on service provision for third parties, and the fourth platform aims to turn Foxconn into an integrated device manufacturer (IDM).
Hon Hai Research Institute targets quantum computing
A fundamental part of Foxconn’s entry into new industrial sectors lays in its R&D capability. For that reason, the Hon Hai Research Institute was set up. The research institute focuses on five areas: AI, semiconductor, next-generation communications, information security and quantum computing.
Quantum computing especially comes to the fore. Liu repeatedly emphasized the importance of quantum computing, believing that the upcoming three to five years will be decisive to develop Taiwan’s capability in quantum computing, leveraging its strength in semiconductor. However, Foxconn will focus on the software-aspect of quantum computing, given the high capital expenditures of hardware development.
Cooperations have already been underway between Foxconn and leading research institutions in Taiwan, such as the IBM Quantum Hub in National Taiwan University, on developing quantum computing.