Apple Supplier Foxconn to Wade into EV Industry with MIH Open Platform

Saturday 17 October 2020, 3:42 AM AEST - 1 week ago

The MIH Open Platform from Foxconn will further be relevant for a future upgrade of any auto part, offering what is described as a Modular uniqueness.

Taiwanese-based technological giant Foxconn Technology Co Ltd (TPE: 2354) is set to diversify its business interests into EV cars by launching what it called the MIH Open Platform. As reported by CNBC, Foxconn which is renowned for coupling most of Apple Inc (NASDAQ: AAPL) iPhones is set to stake its feet in the lucrative EV industry that is projected to be worth about $800 billion come 2027.

The MIH Open Platform from Foxconn will seek to make the company the Android of EV cars as auto production companies can use the platform to design a custom made electric car which will then be produced by Foxconn. The proposition is the first of its kind and the plan appears highly ambitious for Foxconn who has next to no experience in the EV space.

Drawing from Androids software model which allows any phone manufacturer to tap into the operating systems uniquely designed features to enhance the users experience, Foxconn aims to have its MIH Open platform accessible to any intending automobile company that wants to partner with it in designing and producing an EV car.

The proposed platform will further be relevant for a future upgrade of any auto part it might have been used to design, offering it what is described as a Modular uniqueness. In addition to the companys plans for an easy and accessible EV design system, it is also considering an option to produce solid-state batteries that will replace the currently used Lithium-Ion batteries currently used in EV cars. The solid-state batteries are currently under development and are projected to give firms with the technology a massive edge as early as 2025, a year after Foxconns planned debut of the product.

Foxconn EV Investment Move, Weighing the Gains and Fights Ahead

The ingenuity in the proposal by Foxconn to wade into the electric vehicle industry is such that creates a clear path for the company without much competition. Already, the firm has gained trust as one of the top technology partners for brands like Taiwanese Acer Inc (TPE: 2353), U.S.-based Apple, and China-based Huawei to ...

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