Rotating CEO systems are uncommon globally, but analysts believe the move can foster teamwork, prevent leadership entrenchment and develop the next generation of talent.

The plan comes in response to investor calls for stronger corporate governance and separation of the chief executive and chairman roles, sources said. Liu has held both roles since 2019, leading the 50-year-old Taiwanese company that is the world’s largest contract electronics manufacturer and a major iPhone assembler.

Foxconn’s top executives have discussed the rotating CEO plan for months, according to three people familiar with the matter. Two of the sources said one option under consideration is to appoint four CEOs, each serving six-month terms, on a rotating basis. Details have not yet been finalized and could change, they said.

All three sources said no final decision had been made as Foxconn management was still discussing how the proposed system would work, candidates for a rotating CEO position, their responsibilities and how they would work with Liu Yangwei.

One of the sources said the rotating CEO will be responsible for overseeing Foxconn’s six core businesses, including smartphones, PCs and TVs, but will not include the operations of major listed subsidiaries such as Foxconn Connector Technology, FIZhicon Mobile and Foxconn Industrial Internet. .

Another source said the move could mark the end of Foxconn’s “one-manner” system, replaced by an operating structure that would see managers take turns overseeing Foxconn’s hundreds of subsidiaries and affiliates in more than 20 countries. .

Liu Yangwei took over as chairman and CEO after company founder Terry Gou retired in 2019. Gou founded the company in 1974 and held both positions for much of his tenure.

It is noted that Huawei launched a rotating CEO system in 2011, with three executives taking turns serving as acting CEO for a six-month term.

Shares in Foxconn parent Hon Hai Precision Industry Co. have risen nearly 50% so far this year, in part due to a positive reaction to the artificial intelligence boom, while Taiwan’s main stock index has risen 16% over the same period. In March, Foxconn took a more optimistic view of this year’s market prospects, saying it expected demand for artificial intelligence servers to drive significant growth in its revenue.

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Shareholder information shows that the company is wholly owned by Foxconn New Business Development Group Co., Ltd., which is a wholly-owned subsidiary of Hongfujin Precision Electronics (Zhengzhou) Co., Ltd.

According to China News Service, Foxconn said that according to the strategic industrial plan, Foxconn Technology Group will set up Foxconn New Business Headquarters in Zhengzhou in 2023 and establish Foxconn New Business Development Group Co., Ltd. to coordinate the planning of new energy vehicles, batteries, etc. New industry development. The new energy vehicle industry company established under Foxconn New Business Development Group will further focus on the new energy vehicle industry and accelerate the implementation of projects.

Public information shows that as early as 2005, Foxconn acquired the automotive wiring harness company Antai Electric and officially entered the automotive business field. In 2010, Foxconn became a supplier of Tesla central control touch screen panels, connectors, covers and other parts, and began to get involved in the field of new energy vehicles.

In October 2021, Foxconn announced three self-developed electric vehicles for the first time: model c SUV, model e sedan and model t electric bus. In November 2021, Foxconn agreed to acquire the former General Motors plant in Lordstown, Ohio, from electric vehicle startup lordstown motors for 1.469 billion RMB, giving it the company’s first automobile factory.

In October 2022, Foxconn released two new self-developed electric vehicle solutions: model b crossover SUV and model v electric pickup truck. So far, Foxconn has released 5 models. At that time, Foxconn also demonstrated key components such as EPS electric power steering systems, solid-state batteries, and semiconductors, and announced Foxconn’s cdms (commissioned design and manufacturing services) business model in the field of electric vehicles.

It is noticed that Foxconn Chairman Liu Yangwei once said: Foxconn’s goal remains unchanged, that is, to achieve a 5% share of the electric vehicle market in 2025, and expressed the hope that one day Foxconn can help Tesla manufacture car.

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According to reports, this additional investment will be used to open a new manufacturing plant in Devanahalli, where Foxconn has previously acquired 300 acres of land. The industry believes that this plant is likely to be used for assembly of Apple iPhone.

▲Foxconn Bharat FIH factory, source: Foxconn official website

In November last year, the iPhone maker announced that it would expand its operations in India and invest NT$50 billion (currently about 11.4 billion RMB).

Earlier, Karnataka Industries Minister MB Patil had also said: “This is an important opportunity for Foxconn to work with the Karnataka government to advance the implementation of these projects. These projects will have a great impact on the state.” contribute significantly to economic growth and provide employment opportunities for thousands of skilled workers.”

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Image source Pixabay

Foxconn currently has a factory making iPhones in the southern Indian state of Tamil Nadu, employing 40,000 people. At the same time, the government of Karnataka in southern India announced in August that Foxconn will invest US$600 million in two plans in the state to engage in the production of iPhone casing components and chip manufacturing equipment.

Tianfeng Securities analyst Ming-Chi Kuo previously said that the proportion of iPhones produced in India will reach 12% to 14% globally in 2023, and this proportion is expected to increase to 20% to 25% in 2024. At the same time, Apple plans to launch new product introduction (NPI) of the standard iPhone 17 (released in the second half of 2025) in India in the second half of 2024, showing that Apple is increasingly focusing on the Indian market.

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At the launch ceremony of Honghua Advanced, talking about external concerns about the mass production progress of Model C, Liu Yangwei, chairman of Foxconn Technology Group and Honghua Advanced, revealed that Model C has passed more than 100 vehicle tests and verifications and obtained a certificate of compliance. Honghua Advanced is manufacturing this Model C 100% in compliance with Foxconn’s yield requirements for ICT products!”

Model C

Looking forward to the future, Liu Yangwei said that Honghua Advanced will use its own design and service capabilities in electric vehicles and collaborate with Foxconn’s BOL and CDMS business models to enter mainstream markets such as North America and Southeast Asia. In North America, passenger cars will be given priority initially. Southeast Asia is dominated by electric buses.

It is reported in September last year that Luxgen released a pure electric SUV – Luxgen n⁷, which is a mass-produced version of the prototype concept car Model C built by Foxtron, a joint research and development center between Yulon Group and Foxconn Group. , the logo on the grille was changed from Foxtron to LUXGEN.

n⁷

Reports indicate that Foxconn has received orders for 25,000 vehicles so far. The Model C plans to be mass-produced in the fourth quarter of this year, with deliveries starting in January next year and exports as early as 2025, expanding the company’s electric vehicle OEM footprint.

In terms of appearance design, the headlight shape, surround and grille design of the Luxgen n⁷ basically retain the design of the concept car. It adopts a streamlined body and a through-type LED light source at the rear.

According to the official website of Luxgen, the new car will provide a relatively low drag coefficient and support 30-minute fast charging. Other configurations have not been announced. For reference, the previously released Model C concept car has a length of 4640mm, a wheelbase of 2860mm, and can provide a 5+2 seat layout inside. The maximum power of its motor will reach 300kW, the maximum torque is 700N·m, and it will adopt four-wheel drive.

The vehicle’s drag coefficient is 0.27Cd, allowing it to accelerate from 0-100km/h in 3.8 seconds. The vehicle is equipped with Level 2 assisted driving system (ADAS) as standard and is available in standard version (420 kilometers), extended mileage version (700 kilometers) and performance version (acceleration from 0 to 100 kilometers in 3.8 seconds).

The post Foxtron Model C mass production progress: obtained the certificate of conformity listing appeared first on TechGoing.

Source: Foxconn live broadcast screenshot

Liu Yangwei said at the meeting: “I am very happy to be able to showcase our latest electric vehicle model – MODEL N. We hope that through this new electric vehicle, we can demonstrate to traditional automobile companies our full range of vertical integration capabilities and that they can be easily integrated into existing models.”

Source: Foxconn live broadcast screenshot

It is learned from the report that he focused on Foxconn’s achievements in the automotive industry in the past three years, launching a variety of attractive models such as high-end cars, passenger cars, SUVs, compact pickups, commercial buses, and commercial vans. Attention-grabbing products.

Model C

Chairman Liu emphasized that Foxconn’s CDMS (commissioned design and manufacturing services) business model provides overall and customized solutions to the automotive industry. This business model significantly reduces costs and shortens time to market, which is the key to the future success of electric vehicles. factor.

During the event, attendees had the opportunity to explore Foxconn’s electric logistics vehicles in the morning. In the afternoon, they were introduced to Foxconn’s low-Earth orbit satellite, LEO. The satellite has been packaged and is scheduled to be launched next month.

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According to reports, Foxconn has won chip module orders for Nvidia’s latest AI chip GH200, as well as L40/L40S products, which will be exclusively supplied. In today’s event, Huang Jensen and Liu Yangwei will also have a dialogue on the same stage, which is believed to further release more information on expanding cooperation in the field of AI.

Huang Jen-Hsun has already appeared at the Taipei International Computer Show (COMPUTEX) at the end of May, setting off the generative AI craze. His attendance at Foxconn Technology Day this time is expected to lead another wave of craze in the AI and electric vehicle supply chain.

Foxconn Chairman Liu Yangwei has previously predicted: “There will be special guests on this year’s Technology Day.” Market news predicts that on Foxconn Technology Day, Liu Yangwei and Huang Jenxun will share the stage and release information about strengthening cooperation between the two parties. Both Foxconn and Nvidia responded that they “do not comment on relevant rumors.”

Foxconn is a long-term partner of NVIDIA. Whether it is AI chip modules, substrates, motherboards, servers, or cabinets, it can be said to be a one-stop service, helping to create a complete solution for NVIDIA’s AI server supply chain.

The market has previously reported that Foxconn has won chip module orders for Nvidia’s latest AI chip GH200 and will exclusively supply L40/L40S products, continuing to expand its market share in Nvidia. Since AI chip modules are the products with the highest gross profit margin in the entire server supply chain, Foxconn’s gross profit margin is also expected to increase.

Liu Yangwei previously said that for generative AI, Foxconn has five major businesses including modules, substrates, motherboards, servers and cabinets, and even cooling, chassis and entire data centers. Foxconn is the only manufacturer that can provide complete solutions.

Foxconn has also joined hands with Nvidia to sprint into the field of electric vehicles and has been authorized to become a Tier 1 supplier of Nvidia’s automotive products. It will use Nvidia DRIVE Orin technology to produce electronic control units (ECUs) for the global automotive market.

Note: Last year’s Foxconn Technology Day was also held on October 18, when Liu Yangwei released the Model C mass production car, Model V electric pickup truck and Model B compact electric car. In 2021, exhibited the Model C prototype, Model E sedan, and Model T electric bus.

▲ Picture source: Foxconn

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The post Foxconn will exclusively supply NVIDIA GH200, L40, L40S and other products appeared first on TechGoing.

Huang Jensen has already appeared at the Taipei International Computer Show (COMPUTEX) at the end of May, setting off a wave of generative AI craze. His attendance at Foxconn Technology Day this time is expected to lead another wave of craze in the AI and electric vehicle supply chain.

Foxconn Chairman Liu Yangwei has previously predicted: “There will be special guests on this year’s Technology Day.” Market news predicts that on October 18, Foxconn Technology Day, Liu Yangwei and Huang Renxun will share the stage and release information about strengthening cooperation between the two parties. Both Foxconn and Nvidia responded that they “do not comment on relevant rumors.”

Foxconn is a long-term partner of NVIDIA. Whether it is AI chip modules, substrates, motherboards, servers, or cabinets, it can be said to be a one-stop service, helping to create a complete solution for NVIDIA’s AI server supply chain.

The market has previously reported that Foxconn has won chip module orders for Nvidia’s latest AI chip GH200 and will exclusively supply L40/L40S products, continuing to expand its market share in Nvidia. Since AI chip modules are the products with the highest gross profit margin in the entire server supply chain, Foxconn’s gross profit margin is also expected to increase.

Liu Yangwei previously said that for generative AI, Foxconn has five major businesses including modules, substrates, motherboards, servers and cabinets, and even cooling, chassis. Foxconn is the only manufacturer that can provide complete solutions.

Foxconn has also joined hands with Nvidia to sprint into the field of electric vehicles and has been authorized to become a Tier 1 supplier of Nvidia’s automotive products. It will use Nvidia DRIVE Orin technology to produce electronic control units (ECUs) for the global automotive market.

Note: Last year’s Foxconn Technology Day was also held on October 18, when Liu Yangwei released the Model C mass production car, Model V electric pickup truck and Model B compact electric car. In 2021, Foxconn exhibited the Model C prototype, Model E sedan, and Model T electric bus.

▲ Picture source: Foxconn

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According to a report by Caijing last month, a number of intermediaries recruiting dispatched workers for Foxconn Longhua learned that hourly labor rates in the department that mainly makes Huawei and other phone products have exceeded those in the department that makes Apple phones. The Foxconn ACKN department (now the FIH department) in Longhua, which does orders for Huawei and other phone brands, is recruiting at a high price, with an hourly wage of 26 CNY announced on Sept. 12 for hourly workers. In addition to phone camera, need to wear dustproof clothing WWW business group, this is Foxconn Longhua currently the most highly paid recruitment department.

It is noted that the Huawei Mate 60 series since its release, has been much attention and sought after by consumers, a number of models are still difficult to find a machine. The blogger @ factory director is a student of Guan revealed the detailed reasons for the shortage of Huawei Mate 60 series on social media. He said that the shortage is not only due to the slow production speed, but also the supply of accessories in the supply chain can not keep up. The supply of Huawei Mate 60 series has exceeded the expectations of many suppliers, resulting in an increasing number of orders. The production of the Huawei Mate 60 series has been greatly limited due to the lack of supply of accessories in the supply chain. In response to this situation, the blogger said that the availability of the standard and Pro versions of the Mate 60 series will gradually increase, and it is expected that some of the supply pressure can be relieved around Double 11. However, for the Pro + and RS Extraordinary Master, two high-end models, supply pressure is not expected to ease until the end of the year due to the greater difficulty in production and tighter supply of parts in the supply chain.

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Geekwills is an online shop that connects consumers with millions of products and brands around the world with the mission to empower them to live their best lives. Geekwills is committed to offering the most affordable quality products to enable consumers and sellers to fulfill their dreams in an inclusive environment.

The post Huawei: News that “Huawei issued a statement rejecting Foxconn OEM request” is purely rumor appeared first on TechGoing.

Luxgen n⁷

Model C

In September last year that Luxgen released a pure electric SUV – Luxgen n⁷, which is a mass-produced version of the prototype concept car Model C built by Foxtron, a joint research and development center between Yulon Group and Hon Hai Group. , the logo on the grille was changed from Foxtron to LUXGEN.

Reports indicate that Foxconn has received orders for 25,000 vehicles and plans to mass-produce them in the fourth quarter of this year, with deliveries starting in January next year and exports as early as 2025, expanding the company’s electric vehicle OEM footprint.

In terms of appearance design, the headlight shape, surround and grille design of the NAZIJE n⁷ basically retain the design of the concept car. It adopts a streamlined body and a through-type LED light source at the rear.

According to the official website of Lazijie, the new car will provide a relatively low drag coefficient and support 30-minute fast charging. Other configurations have not been announced. For reference, the previously released Model C concept car has a length of 4640mm, a wheelbase of 2860mm, and can provide a 5+2 seat layout inside. The maximum power of its motor will reach 300kW, the maximum torque is 700N·m, and it will adopt four-wheel drive.

The vehicle’s drag coefficient is 0.27Cd, allowing it to accelerate from 0-100km/h in 3.8 seconds. The vehicle is equipped with Level 2 assisted driving system (ADAS) as standard and is available in standard version (420 kilometers), extended mileage version (700 kilometers) and performance version (acceleration from 0 to 100 kilometers in 3.8 seconds).

The post Foxconn will mass-produce Model C cars in the Q4 of this year, deliver in January 2024 appeared first on TechGoing.