the buildoperatelocalise bol model in ev manufacturingthey want to become the android of the ev ecosystem he addedthe company will look to build a vertical platform including manufacturing hardware component manufacturing and battery management and then partner with local firms through its mih mobility in harmony platformfoxconns mih consortium is an open ev alliance that promotes collaboration in the mobility industrythe companys latest annual report reviewed by et says that it will cooperate and strive with more than 1500 member companies at home and abroad to become the android platform of the electric vehicle industryshah is of the view that the taiwanese manufacturer is looking to break the slowness in the automotive industry dominated by a few oems which control most of the rd and supplyit is a closed ecosystem and foxconn wants to open it up by leveraging local partnerships and local suppliers in markets like india indonesia and europe and expand their manufacturing he addedglobal movesfoxconn which gained global recognition for being apples largest contract manufacturer now has its eyes fixed on the mobility space currently it has car projects running with the yulon group in taiwan with fisker inc and lordstown motors in the us and with state oil company ptt in thailand among others in november 2022 it announced that it was teaming up with the saudi public investment fund to create a new ev brand called ceerexperts said that indias large consumer market favourable demographics and government initiatives like make in india are drawing several companies to invest in manufacturing facilities within the countryindia is expected to become a sizeable ev market usd 100b opportunity by 2030 across value chain driven by strong domestic demand favorable regulatory environment and oem push said deepak jain partner bain companya strong talent base and wellestablished automotive manufacturing sector indicate strong potential to become an ev manufacturing hub entry of lowcost contract manufacturers will be a definite boost for e2w electric twowheeler players struggling to scale he addedfoxconn said in addition to the automotive strategy it is also focused on the development of ev componentsread alsofirst foxconn investment in bag telangana thirsts for moreather energy partners with bajaj finance to offer hasslefree loans for its customers by dia rekhi ettech published on jun 16 2023 at 0758 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app foxconn apple india manufacturing electric twowheelers ev vedanta ev funding ev and future mobility homenewsindustryfoxconn may set up ev factory in india this