Foxconn electric vehicle alliance plans boxy three-seater

10 Nov 2022 CW Team

MIH, a Foxconn-led electric vehicle consortium, has announced plans for its first car, a boxy single-row three-seater that it hopes will appeal to Asian one-child families. Foxconn has increased its investment in EVs and semiconductors in recent years, signing agreements with US startup Fisker Inc and Indian conglomerate Vedanta. MIH Consortium plans to build its first car, Project X, in 2023 and begin mass production the following year, based on strong demand in Asian markets for smaller electric vehicles. No customers have been confirmed. Foxconn announced a deal to take a near-20% stake in loss-making U.S. electric truck maker Lordstown Motors Corp for up to $170 million shortly before the MIH event began.

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