TAIPEI (TVBS News) — Foxtron Vehicle Technologies, a subsidiary of Hon Hai Precision Industry Co., Ltd., held a pre-IPO performance announcement event on Monday (Oct. 23).
Speaking at the event, Foxtron CEO Andy Lee said that this year's revenue has tripled compared to last year, and the outlook for future growth is promising.
Lee added that orders for Foxtron's electric bus, Model T, exceed its production capacity. The first passenger car developed by the company, Model C, has been adopted by Luxgen Motor Co., Ltd. for its n7 model, with orders surpassing 8,000 units.
The Model C obtained government regulatory certification in October, and delivery will commence in January 2024.
Currently boasting over 700 employees, Foxtron's headquarters and design center are based in Taiwan, but the company has a procurement center in Hangzhou, mainland China.
As a design enterprise integrating ICT and traditional crafts, Foxtron focuses on electric vehicles. Within three years of its establishment, the company has developed four prototypes, marking it as a top global competitor in terms of efficiency.
Looking to the future, Lee shared hopes for complete electrification of public buses by 2030, predicting significant growth of Foxtron products over the next several years.