Taiwan’s Foxconn said on Wednesday it has partnered with chipmaker NXP Semiconductors to develop a platform for electric vehicles, moving a string of such deals by iPhone assembler to the auto market.
Foxconn, known for assembling Apple’s iPhone, has expanded into areas including electric vehicles (EVs) and semiconductors in recent years, announcing deals with US startup Fisker Inc and Indian conglomerate Vedanta Ltd.
In a statement, Foxconn said it had signed a memorandum of understanding with NXP to develop a platform for EVs, giving it a “prime opportunity to boost its ability to quickly manufacture EV products and reduce costs.” ” Told.
The Taiwan-based company said it plans to build more than 10 automated products with NXP and they will be in development soon, including next-generation EV platforms using NXP’s processors.
Foxconn aims to provide components or services to 10 percent of the world’s EVs by 2025 to 2027, President Liu Young-wei has said, as the world’s largest contract electronics manufacturer with its assembly technology to lower manufacturing costs for carmaking. has vowed to do so.
Amid the worldwide chip shortage, the Taiwanese company is seeking to acquire chip plants globally. It said last week it had become a shareholder in Chinese chip conglomerate Tsinghua Unigroup through a $798 million investment by a subsidiary.