Foxconn bullish on electric vehicle prospects as it shows off three prototypes

TAIPEI: Taiwan’s Foxconn unveiled its first three electric vehicle prototypes on Monday, underscoring ambitious plans to diversify away from its role of building consumer electronics for Apple Inc and other tech firms.

The vehicles – an SUV, a sedan and a bus – were made by Foxtron, a venture between Foxconn and Taiwanese car maker Yulon Motor Co Ltd.

Foxtron Vice Chairman Tso Chi-sen told reporters that he hoped electric vehicles would be worth a trillion Taiwan dollars to Foxconn in five years time – a figure equivalent to around $35 billion.