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Foxconn Launches Three of its Own EVs, Extending Reach

Foxconn's electric vehicles include the Model C sport utility vehicle, the Model E sedan and the Model T bus.
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Foxconn  (FXCOF) , the colossal Taiwan manufacturer, introduced its first three autonomously developed electric vehicles Monday, as it broadens beyond contract work for Apple  (AAPL) - Get Apple Inc. (AAPL) Report and others.

The vehicles include the Model C sport utility vehicle, the Model E sedan and the Model T bus.

The Model C is the first built on Foxconn’s electric vehicle open platform, the company said. It’s 4.64 meters long with a wheelbase of 2.86 meters. It goes from zero to 100 kilometers an hour in 3.8 seconds and delivers an extended range of 700 km.

The Model E, jointly developed by Foxconn and Italian design firm Pininfarina, has a power output of about 750 horsepower and achieves 0 to 100 kph in 2.8 seconds, Foxconn said. It has a 750 km range.

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The Model T’s battery can withstand temperatures of up to 400 degrees, across a range of more than 400 kilometers, Foxconn said. Under full load conditions, the maximum climbing capacity can reach 25%, and the maximum speed can reach 120 kph.

The vehicles were made by Foxtron, a joint venture between Foxconn and Taiwanese car maker Yulon Motor.

Foxtron Vice Chairman Tso Chi-sen told reporters that the company hopes to generate $35 billion of sales from the cars in the next five years, CNBC reported.

In other EV news Monday, auto titans Toyota Motor  (TM) - Get Toyota Motor Corp. Sponsored ADR Report and Stellantis  (STLA) - Get Stellantis NV Report (formerly Chrysler) each announced they’re creating battery factories in the U.S.

Toyota will invest $3.4 billion in auto batteries in the U.S. through 2030, it said.