The pandemic has shattered the world, but the year 2020 has been a good year for Electric Vehicle (EV) industry
After Tesla's announcement of a new battery with significant improvement in energy density, Foxconn, the Taiwanese electronic giant, famous as a contract manufacturer of Apple iPhone and iPods, has recently announced MIH as an effort to put a strong foothold in the EV market. Although this is not the first attempt at Foxconn to enter into the industry, in 2014 Foxconn has announced developing an EV that was projected to sell for under $15,000. Also, it was rumored that Foxconn would be taken as a contract manufacturer for Apple Car, known as "Project Titan" which has been started several years ago if it were continued.
Foxconn's MIH is a software and hardware open platform that will engage in developing different parts of EVs to build a complete ecosystem. In a press announcement made by Foxconn on 16th October 2020, they have highlighted MIH as the “android system of the EV industry”, referring to Google's smartphone operating system that has been adopted by hundreds of different smartphone manufacturers. With MIH, Foxconn is aiming to develop a vehicle agnostic platform that can be used by various EV manufacturer for a wide variety of automobiles.
A Solid-State Battery
Besides announcing MIH, at the same time Foxconn has also announced the development of a solid-state battery which is planned for commercial roll-out in 2024. Unlike current lithium-ion batteries, which use liquid for the battery chemistry, a solid-state battery uses a solid electrolyte, resulting in much higher energy density than lithium-ion batteries. This will result in covering a greater range by EVs without increasing the physical size of batteries.
But keeping the development of solid-state batteries in mind, a commercial roll-out in 2024 seems a bit over-optimistic. Currently, only Mercedes-Benz EV buses are using solid-state batteries in a commercial form. Several companies are actively working to bring solid-state batteries to passenger cars, but the experts from Volkswagen and Toyota has indicated that it may be close to 2030 to see any commercial adoption of solid-state battery in passenger cars.
According to research conducted by Boston Consulting Group, the global EV market in 2025 to 2030 will reach 36 million vehicles per year. Foxconn's move may put them in the right position with their development in this segment. It would be very interesting to see an electronic giant holding an important position in the future automobile market.
Image Source: Foxconn