Foxconn Electronics, known as a contract electronics manufacturer and has recently been actively promoting the same business model in the electric vehicle market, is developing batteries, according to a source citing industry data. More specifically, it develops lithium iron phosphate (LFP) and solid-state batteries for use in electric vehicles.
Batteries account for about 50% of the mass of an electric vehicle and 30% of its cost. It is believed that if the mass of the battery can be reduced by 50%, the range of electric vehicles can be increased by 25%. In other words, this is an important area of ​​work.
Foxconn plans to introduce battery samples for electric vehicles in 2021 and bring development to commercial use in 2024, according to Foxconn executives.
Industry sources point out that many major automakers are developing solid-state batteries for electric vehicles on their own or in collaboration with battery manufacturers. None of them have yet achieved success, if we consider as such the use of solid-state batteries in mass-produced machines.
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