Hon Hai Precision Industry Co (鴻海精密) is expected to deliver its first electric buses to Kaohsiung-based conglomerate San Ti Group (三地集團) on Thursday.
The electric buses are based on the Model T electric bus prototype unveiled on Oct. 18 by Hon Hai and its joint venture Foxtron Vehicle Technologies Co (鴻華先進科技) with automaker Yulon Group (裕隆集團).
Hon Hai said with the new buses, Kaohsiung would be able to provide new public transport options to connect communities around the city.
Foxtron signed a memorandum of understanding with San Ti subsidiaries North-Star International Co (北基國際) and Kaohsiung Bus Co (高雄客運) in July last year to purchase electric buses developed on the platform. -open form MIH of Hon Hai.
Hon Hai said the new buses would join the Kaohsiung Bus fleet, without specifying the number to be delivered.
After launching three prototype electric vehicles in October last year, Hon Hai is expected to unveil two more prototypes at this year’s Hon Hai Tech Day event, Chairman Young Liu (劉揚偉) said.
Hon Hai announced last week that it would set up an electric vehicle joint venture in Saudi Arabia, investing 562.5 million riyals ($149.94 million) in an 8.2% stake in the new company, saying that he was looking to establish himself in the Middle East.
In the United States, Hon Hai has worked with Lordstown Motors Corp to develop the Endurance electric pickup truck, which is expected to begin mass production as early as the third quarter of this year.
In the Thai market, Horizon Plus Co, a joint venture between Hon Hai and state oil supplier PTT Public Co, was set up earlier this month, and construction of its production lines is expected to be completed in 18 to 24 months, with commercial production scheduled for the first half of 2024.
Late last month, Hon Hai and electric scooter brand Gogoro Inc (睿能創意) signed a memorandum of understanding for the development of electric vehicles with Indonesia’s Ministry of Investment, battery supplier PT Industri Beterai Indonesia (IBC) and energy developer PT Indika Energy. The deal is expected to be finalized next month.
Liu said Hon Hai was aiming to generate NT$20 billion ($713.75 million) in sales from its auto parts units this year, but added that the target was subject to revision depending on changes in the market.
Over the next five years, Hon Hai predicted that the electric vehicle industry will generate NT$1 trillion in revenue.
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