Foxconn's Plan To Dominate Electric Vehicles
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- Опубликовано: 8 июн 2024
- Foxconn is the world's largest contract manufacturer of consumer electronics. They're best known for making Apple's iPhone. Now they're trying to expand into the electric vehicle business. Is this a good idea?
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0:00 - 1:41 Intro
1:42 - 4:53 Consumer Electronics
4:54 Electric Vehicles 
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8:50 The company went public by merging with a SPAC. - Famous last words!
😅
Fun fact
😂😂
Ask Wisconsin how they worked out.
Republicans won't even talk about it anymore. Just a miserable failure under Trump and Walker.
Sounds like Foxconn better have their accounts receivable department on point with their patter of working with startup failures
Bruh, Magna is *Canadian!* Not Austrian. We have *one* globally relevant company up here, and it's Magna! Please don't take that away from us!
😂
Shopify is another one
@@Entertainment- shopify is trash
Errr... Bombardier?
Hey at least you can claim Drake, right?
thanks for the consistent uploads
I do believe Magna is a Canadian Company.
"Welcome to the 1950s, a decade of setting up shop for Magna. Frank Stronach opens a one-man tool and die shop in Toronto called Multimatic."
BYD made batteries and assembled small electronic devices before moving into EV. However they did this fairly early, so they manage to secure a large chunk of the EV market. Foxconn does have good control over the supply chain, great, but its late entry might face fierce competition and limited profitability
Love your consistent content, keep it up!!
Wasn’t Magna a Canadian company? It was started by Stronach, wasn’t it?
Magna-Steyr is their Austrian division
@@JMJR07 oh…good to know, I wonder why he only mentioned this division in the video. Are they the only ones doing car assembly?🤔
WSM doesn't always have the best research on his videos.
Magna is a Canadian company. Also government subsidies are available for vehicles built within the US, Canada and Mexico not just the US. He often gets details wrong but still makes a decent case for his point of view.
He does research with Chinese characteristics. @@faroncobb6040
i can actually already see car by foxconn in someway on the road of Taiwan now
They partner with a Taiwanese local car brand "Luxgen"(which is the Yulon Motor mention in the video), Luxgen already launch their first full EV "n7" base on the Foxconn Model C platform, i can already see quite a few of them on the road. so far they are selling quite well from what i heard
and the deal work just like you said, Foxconn design the platform and manufacture the car, and Luxgen design the rest and handle the sales etc
my family test drive one when we are shopping for car, they look cool and are relatively cheap, we still bought a Mazda at the end tho lol
Yeah, the extremely protective and expensive Taiwanese auto market. I'd see if Foxconn can have this scheme, already several years old, work anywhere else.
@@theolich4384 yeah, that is part of why my family still buy a Mazda, we really don't want a Luxgen and support a brand that has been protected by gov for so long yet still can't make a good car lol
Am I the only one who saw the sales of full EVs are dropping like 50% per annum. People are seeing the scam , they will buy into hybrid because they can fall back on the Combustion when the electric inevitably fails them.
You forgot that they also make suicide nets.
Great video. The market is certainly very inefficient right now and there is a ton of value to capture but without a stable partner they are “dumpster diving” as you put it. In paper it is a good idea. Not sure if it will pan out.
Cool topic, didn't know this
ID Shield and Legal Shield are owned by this company.
They've been testing their Foxtron bus in where I live.
Taiwan,?
why doesn t this channel have a few M subs??
Because it’s kind of boring
Because half the vids have scam ads in them.
Because the information presented isn't always correct
Do any faceless finance channels have millions of subs? I don’t watch this niche a lot so I genuinely don’t know. But most million+ sub faceless channels I see are genres like true crime and stuff. Just an observation
awesome, as usual.
I feel that Foxconn's strategy of standardizing hardware might be a hard sell for cars, since cars are much more hardware focused than smartphone, both from a customer's perspective as well as from a law perspective. I've seen a news article stating that in China EVs have become "Smartphones on wheels", and that Chinese customers are more focused on the software than the performance of the vehicle (which also explains why so many Chinese smartphone companies are unveiling EVs, while Apple just gave up on Project Titan). If that is the case, I can see them being successful in the Chinese market (which in all fairness is so big they might as well achieve 50% of the global EV production), but I'm skeptic they'll be able to do that abroad. At least not 100%, maybe western manufacturers will outsource their "entry cars" while producing higher end models in-house
You could well be right it's hard to say at this point isn't it but I guess I do believe the adage at the end there if anyone can do it foxconn can do it. I don't know if it makes sense to say that it is more hardware-based there are more hardware components but foxconn's contribution to electronics is entirely hardware based. I don't believe they develop any of the software for devices and so I think the complexity and project as a whole is pretty much just the same thing at a different scale. The issue is going to be whether they can actually uniformly use different components across different manufacturers. If they can successfully standardised components which I suspect they'll be able to do for at least a large number of companies because it seems like it certainly Tesla and other companies build a lot of their own stuff from scratch but I suspect technologically inside are very similar to other brands, I think the concepts will take quite some time to come to frooition but I didn't see any hard reason why it can't.
No legacy car manufacturers are outsourcing their car manufacturing to them.
The joint ventures in other countries are mostly about breaking into foreign markets. We already worry enough about Chinese IP theft, handing over designs would be insane.
So realistically they are probably only getting a market in Chinese startups
Plus the electronic manufacturing is very different to automotive manufacturing.
There’s a reason why Teslas have good software and poor build quality.
This is just a big conglomerate trying to break into a hyped industry.
@@bwood1234qwertthey might be able to standardise some parts like motors, battery modules.
But the EDU design is incredibly complex, just cause you have a good motor doesn’t mean it will be good for the total edu.
Importantly this is already a business that already exists, we already have battery specialists and motor specialists, so why would I want a electronic specialist to build my parts
Incredible how they do this and pay fair wages at the same time...
On the face of it, this makes perfect sense. EV startups won't need to burn through so much cash so quickly if they can outsource manufacturing. This should help them get to market faster without having to climb the manufacturing learning curve which is really steep (ask Elon). Foxconn will make lots of mistakes from a quality perspective to begin with but they'll eventually get it right. The MIH initiative is also BRILLIANT. Creating component standards worked for consumer electronics and I don't see why it shouldn't work for automobiles.
What makes you think they aren't already doing that. The auto industry is massive with not just the auto companies but the parts suppliers as well. 14 auto companies own 60 of the major brands. They all have the same suppliers, and they make some of their own parts. I think the problem is that cars are way more complicated than consumer electronics. Also, consumer electronics is very broad, ranging from TV, phone, tablets, etc, and compared to a car, they are much more simple to make and transport.
They already can outsource it. to Chinese carmakers like SAIC, GAC, Dongfeng
I really found this video very interesting, since it’s of those good ideas that still may not work out in the end.
Guess foxconn wanted this company to do Apple cars but Apple pulled out halfway! Dyson also pulled out of EV couple years back!
Pininfarina seems to be the only third party designer that has succeeded in designing entire cars and models for other manufacturers both electric and combustion engine
Yeah with the help of his parent company Mahindra located in India
In bicycles also.
This is good news imo. Too many times we don’t get the progress we should because a greedy stupid executive thinks the progress will hurt his bottom line it’s good to do some forward thinking here and marry the profit motive to progress
Nice
YESLA rules. I doubt this megacompany will end up being an EV player.
Not one word on how they're going to compete with BYD exactly.
Another problem with this car’s are a large expense you expect to last you atleast a decade. You are not going to buy a car from a company that’s likely going out of business in that time
Magna is a Canadian company not a Austrian company
Just not sure about company with the word "Con(n)" in their name. Unless you are based in Connecticut. =))
If they are making automobiles for the consumer market and they are not affordable, then they should just go ahead and bow out.
Foxconn, Magna, Sony. Surely they could work with Nissan or Mitsubishi and make something happen.
Outsourcing vehicle manufacturing will turn as good as it is turning out for Boeing
What if they used their US factory to build cars that people actually want, instead of churning out garbage for failing EV startups? It sounds crazy I know. Probably a pipe dream.
90% of the parts in most GASOLINE cars are not made by the manufacturer. The seats. The windshield. The brakes. The wiring. Sometimes the power train. The infotainment. Airbags. And, so on. It's not uncommon for all of that to be outsourced for gasoline gars or EVs.
I would not want a BYD in our condo garage. It's practically an incendiary bomb.
So Foxconn has chosen death?
But EV startups like Apple burnt $10B cash for nothing.
0:59 its less than 4k/year actually
Magna is a Canadian not an Austrian company
Wallstreetmillenial hardly cares for such details. Here facts are a nuisance😂
Canada doesn't exist. It's a scam.
I am Watching your video from foxcon android in Indonesia
how many cars can you put in a ship ?
how many phones can you put in a ship ?
I think they will burn a lot of cash before they find out that auto manufacturing is really hard and really political
Magna is Canadian, not Austrian
No one knows more about manufacturing than Elon musk.
---Elon
There’s a world of difference between consumer electronics and EV’s.
For a start, people actually want consumer electronics.
Also, a new model phone or laptop comes out every year and you have the same demand. The same won’t be true for EV’s.
This branch of their business is so risky. But I couldn’t care less.
With the experience of Tesla and co in China it sounds like a bad idea for any established auto maker outside of China to go to Foxconn
Not quite the same. Foxconn basically is trying to be an OEM for EV's. They will have base designs and another brand can come to them with a few small customizations/specifications and Foxconn will put their branding on it. But there's no exclusivity. Any brand that wants to use Foxconn can use any of their base designs. Similar to how a Pontiac Sunfire and a Chevy Cavalier were the exact same car, with a slightly different aesthetic. Literally anyone with the money to buy the cars will be able to create their own EV brand in a matter of months. Then it's the brands job to market and sell the cars for a profit.
Foxconn is Taiwanese not Chinese.
Ask apple how that went
Foxconn is 10 years behind on this. they won't be able to compete on the mainland because they are ay too late. and you already have subcontracting options there for smaller EV brands. And there is already huge overcapacity in China car market as domestic demand started falling in 2017. that leaves that capacity for exports
I'd never trust my life with a Foxconn product.
If vehicle production is standardized, innovations will come more quickly. They have to get over the quality control factor. Legacy auto woukd have an easier time with transition to EVs by ditching huge plants and coming up with patented technologies.
EVs are much easier to standardize than ICE vehicles, but the learning curve is still pretty steep. Someone needs to take the first step. I can see one of the US big three giving someone like Foxconn a chance since they are obviously having difficulties optimizing the supply chain to build EVs cost-effectively.
Moving into EVs just as everyone stops buying them. Smart. Though I do love the naivity of this channel thinking Telsa and BVD make profits.
What do you mean when you insinuate that Tesla does not make profits? That without carbon credits they would have a net loss?
Tesla is profitable
These days people (in the US anyway) probably keep their TVs and other home electronic appliances longer than they keep their car. So business model and practically, EVs ARE consumer electronics. The costs and the IP are all in the electricatonical bits, just like computers and smart phones.
What? The US vehicle fleet is on average old, like a decade old... and most people I know who have bought a car before the big "Teslaification" push don't desire a new vehicle
@@randomchannel-px6ho I didn't say how old the cars are. Search for how often Americans buy different cars.
They can just retrofit used vehicles instead of using resources to make new ones.
Another difference between consumer electronics and EVs is that consumer electronics is making devices people actually want.
BYD isn't making a profit.
Taiwan number one!!!!
They can "Dominate" the EV Industries, The Backing of their good old Uncle Sam will became the major factors especially when the Uncle Sam already put a smart curb on their main competitors with perhaps more than 300% tariffs in the futures and also counting the hypes that the anti CCP content creator such as this channels that will push their exposure further more while won't even mentioned anything or criticized anything bad about them if they goes busts.
Geopolitics is the main reasons of any success.
Did I do it???
Yes, you’re gay now. You’ve done it
No. I'm first.
Ah, Xiaomi anyone? Anyone surprised at how a company that has zero experience with cars suddenly managed to completely sell out all production for over a year, and get massive wait times to even see the car? And apparently the car is actually also quite good... Because they don't make it! It is made by an established auto manufacturer and just designed by Xiaomi, just like Apple with iPhones.
Pretty disappointing no mention was made of the Xiaomi experience in the video...
"Use our slaves to build your stuff."
Foxconn is trying to recover from a major haircut in China, so it decided it will become world’s automaker. Wallah ! Never mind they know nothing about the industry.
EV cars are consumer electronics, they will likely dominate.
Ha
Big plans but is it possible ?I don’t think so because there many people like who prefer European EVs. Chinese EVs generally lacks quality ,reliability which I have read they are ! Quality dominates quantity ! Chinese EVs to dumping prices supported by the Chinese government is not my kind of business.Europe should be on its guard to stop cheap Chinese
brands.Yesterday I read that 36 different brands of EVs were ready to conquer Europe and elsewhere . What about service ,spare parts etc ? Will there be any guarantee for costumers. I know European brands but here you are total on your own .Knowing the lack of educated technicians to maintain the EVs it is a bit like the Wild West !
Please refer to Tesla stock regarding what happens when an "Automobile" Company tries to refer to themselves as a Tech Bro company.
GM & FORD are beginning their EV development but it is SLOOOW -- because it must be SAFE. This, however, tends to fall under the "Whatevs" list for
the Tech Bros.
Foxconn ?!!? More Chinese built crap.
It will fail. Period.
Is the safe way of doing it why GM's EVs caught on fire while charging indoors? There's plenty of shade to be thrown at the likes of Tesla but acting like GM and Ford are driven by anything but cost cutting is incredibly naiive.
@@electrified0 -- I do not disagree, however, Those 2 are auto manufacturers where tesla is trying to classify itself as a robotics company to avoid all of the regulations that are understood by GM & Ford. Also - That was the Bolts that had that issue which have been recalled & repaired. Whereas - Every single Cyber truck has been recalled because the gas pedal will fall off. Cannot wash it while Sunny. Will break a finger upon closing of the hood. Cannot function Off road. Tech Bros Truck production. It figures.
Haha, no they are not…
Bad idea
This video promoted me to check upon my own mobile phone. I was proud to have bought a Motorola, a brand that I had thought was American. I was wrong. While headquartered in USA, Motorola is a subsidiary of Chinese company Lenovo.
I will next buy a Samsung phone, a company that ceased Chinese production in 2019.
How do you not know that? Also Sony stopped production of smartphones in China many years ago.
@@Entertainment- ...but I do know, having researched it. I don't mind admitting that I didn't know beforehand. We only know what we have researched, directly experienced, or vicariously experienced through the accounts of others. Do you know how to write a class, or implement polymorphism in C++ ? Do you know how to assemble the shoes, springs, and levers of a typical drum brake mechanism ? Do you know when Chrysler introduced the Hemi V8 ? Do you know when the Battle of Agincourt occurred ? If any of these things are unknown to you, I could mock with the same retort of "How do you not know ?", as if you're a failure. I don't, however, think that. None of us knows everything, and things that may be known to you, are not known to me.
Samsung exited the Chinese market because of badly made phones. They actual still in China with a share of less than 1 %.
another chinese phone company that wanna make ev car. I've heard so many chinese evs blew up.
I will never buy an electric car because I find it really ugly, and in general modern cars are very ugly. I prefer my dream car, the Mercedes 190 Evo.
No, you didn't.
No what? Anyway,
BYE BYE FOXCONN
Manufacturing EV is a path to graveyard.
Your video is a joke ? Magna is canadian .... 1 search and is says canada evrywhere
Very ponzi.
Why? Nobody wants stupid electric vehicles anymore.
Electric vehicles are going away.