Taiwan's Foxconn Technology Group expects robust growth over the next three years from artificial intelligence, information technology, and electric vehicles, with the world's largest contract electronics manufacturer expanding partnerships with Japanese automakers as it prepares for potential governance changes.
AI and EVs fuel expansion strategy
At the company's annual shareholder meeting on May 28, 2025, Chairman Young Liu outlined the three pillars driving expansion for the Apple Inc. supplier, which assembles most of the world's iPhones. The information and communication technology business will maintain steady performance while AI demand in edge computing and server applications creates significant momentum, Liu said.
The electric vehicle segment represents the biggest growth opportunity as product launches advance and Foxconn's customer base expands. Beyond an existing partnership with Mitsubishi Motors Corp., negotiations with a second Japanese automaker are nearing completion with an announcement expected soon, according to Liu. The company is also exploring partnerships with third and fourth automakers.
Platform strategy mirrors electronics model
Foxconn's electric vehicle strategy focuses on common platform elements that allow automaker partners to customize vehicles while sharing underlying architecture. The approach mirrors its electronics manufacturing model, where reference designs reduce development time and costs for customers by up to 80%.
The company plans United States market entry by end-2025, though Liu cautioned that tariff conditions and production complexities at American facilities require close monitoring amid evolving trade policies.
Leadership changes on the horizon
On corporate governance, Foxconn may separate its chairman and chief executive roles within three years following shareholder pressure. The company implemented a rotating chief executive officer system in April 2024 to prepare senior executives for potential leadership changes, with one-year terms designed to broaden management experience across the group's operations.
The rotating chief executive officer position, currently held by Chung-cheng Lin from the Electronic Business Group, will transfer to Kathy Yang on March 31, 2025. Yang, who joined Foxconn in 2007, leads Jusda Supply Chain Global.
Despite global economic uncertainties, Liu expressed confidence in the company's three-year growth prospects, citing strong positioning across key technology sectors and expanding manufacturing footprint.
Article edited by Jerry Chen
