Foxconn, which makes most of its business in making technology products for third-party companies, appears to be planning to apply the same model to its new car manufacturing business.
Foxconn has now announced an agreement with Los Angeles-based electric vehicle startup INDIEV (founded in 2017) to build prototypes for its first production vehicle at its recently acquired Ohio plant (formerly GM Lordstown).
The two companies have officially signed a memorandum of understanding to produce a vehicle called the “Indi One” in Ohio (announced in October 2021), and the partnership will likely extend to future models and actual full-scale production as well. The agreement only involves the manufacture of the prototype cars needed for testing, not the mass production of finished models.
According to public information, the Indi One prototype is equipped with a large 95-kilowatt-hour battery pack with an expected range of 275 miles (442 kilometers) and can accelerate to 60 miles in 5.5 seconds. Its target suggested price is about $45,000 (about 319,000 yuan), which is the benchmark for Tesla Model 3.
Foxconn chief product officer Jerry Hsiao said:
"Our MoU with INDIEV marks the start of more discussions about the future of electric vehicle manufacturing in Ohio. Throughout the process, Foxconn has confidence in its Ohio employees to produce high-quality prototypes that will help INDIEV achieve future success."
