The MIH Alliance held a partner gathering on March 25 where it invited US-based electric vehicle (EV) startup Fisker, solar EV maker Aptera Motors, electric tractor maker Monarch Tractor, and electric bus maker Foxtron Vehicle Technologies to present their results. The gathering focused on the pain points and development trends of the new energy vehicle (NEV) industry.
MIH CEO Jack Cheng and Hon Hai Precision Industry (Foxconn) chairman Young-Way Liu both pointed out that MIH will be based on technology development in the future. Through 16 working groups focusing on segments such as autonomous driving, information security, and electrical/electronic architecture (EEA), MIH aims to carry out standardization and modularization.
Cheng addressed the goals of the MIH over the next five years, which include releasing an EV reference design in 2022 and carrying out investment meetings in various regions for its Model C and Model E EVs. The MIH also hopes to launch its autonomous driving system based on the drive-by-wire API, vehicle development environment based on the zero-trust security model, and the zonal-designed EEA platform by the end of the year.
The alliance estimates all preparations for entering the market will be completed by 2023-2024. The alliance expects to see real results, expand overseas channels, and further obtain international orders by 2025.
Cheng emphasized that figuring out how to effectively integrate alliance partner resources is a top priority. In addition to calling upon the specialized working groups within the alliance to accelerate modularization and standardization, the MIH is also actively bringing together external cooperation partners to participate. This includes increasing efforts to invest in startup automakers that possess EV manufacturing capabilities, integrating resources from startup EV brands in Southeast Asia and North America, preparing for further integration of upstream and downstream supply chains, and expansion of overseas channels.
For example, Foxconn announced the acquisition of US-based EV maker Lordstown Motors' factory in Ohio to expand its EV manufacturing base in North America. Lordstown Motors CEO Daniel Ninivaggi said working with Foxconn will help expand their vehicle development, procurement, and manufacturing. Products developed on the MIH platform can further expand economies of scale through shared key components, vehicle architecture, and engineered production lines.
Foxconn has also established Horizon Plus, a joint venture company with Arun Plus, the EV brand under Thailand-based PTT Group. In the future, the company will be able to provide foundry and manufacturing services for OEMs and brand customers in the Thailand and ASEAN markets. Arun Plus managing director Ekachai Yimsakul pointed out that working with Foxconn will facilitate the integration of upstream and downstream supply chains, which will not only shorten development times but also reduce costs.