Taiwan's Foxtron Unveils Bria EV Model, Targets Global Markets
In a significant development in the electric vehicle (EV) industry, Taiwan's Foxtron Vehicle Technologies, a joint venture between Foxconn and Yulon Motor, has launched its first electric vehicle model, named Bria. This groundbreaking announcement was made during the company's annual Tech Day in Taipei on October 18, 2022, marking a pivotal moment in the company's history.
The Bria EV model is set to make waves in the global market, as it is the first EV to be manufactured in Taiwan specifically for export. Foxtron has revealed that the model will be available in three versions, priced between $28,600 and $36,540, making it an affordable and competitive option in the EV segment.
This launch comes on the heels of Foxtron's recent acquisition of Yulon Motor's Luxgen passenger-car brand for T$787.6 million ($24.95 million). As part of this deal, Foxtron gains full ownership of Luxgen, including its sales subsidiaries, outlets, and employees, solidifying its position in the EV market.
With this acquisition, Foxtron aims to establish a comprehensive EV value chain in Taiwan, encompassing product development, sales, and after-sales services. This strategic move positions Foxtron as a key player in the EV industry, leveraging its expertise in contract design and manufacturing for car brands.
Foxconn, the world's largest contract manufacturer for iPhones, holds a 45.6% stake in Foxtron, while Yulon Motor, a Taiwanese automaker, owns 43.8%. This partnership between technology and automotive giants highlights the potential for innovation and growth in the EV sector.
The Bria EV model's launch is a testament to Foxtron's commitment to pushing the boundaries of EV technology and expanding its global footprint. As the company continues to innovate and adapt to the evolving market, it is poised to make a significant impact on the future of sustainable transportation.
