(Yicai Global) Feb. 26 -- Hon Hai Precision Industry Co. Chairman Terry Gou visited Xpeng Motors to test drive the electric car startup's first mass-production model after investing in the company through a B-round of funding last month.
The head of the Taiwanese electronics giant, better known as Foxconn, went for a spin in a G3, which Xpeng unveiled at CES 2018 in Las Vegas last month, the Guangzhou-based firm said on social media. Xpeng founder He Xiaopeng said on Jan. 29 that the "G3 is set to be launched in the market this year."
Officially known as Xiaopeng Motors Technology Co., Xpeng secured CNY2.2 billion (USD347 million) in B-round funding led by e-commerce stalwart Alibaba Group Holdings Ltd., with support from Foxconn and IDG Capital. Gou is pursuing a strategy to expand Foxconn, a high-tech contract manufacturer best known for assembling Apple Inc.'s products, into emergent technology sectors such as cloud computing, artificial intelligence and new-energy vehicles.
Foxconn and Xpeng executives talked for over two hours during Gou's visit, Xpeng said, adding that this year will witness a milestone in cooperation between the internet and manufacturing industries. He, who created mobile browser developer UC Mobile Ltd., set up Xpeng in 2014
"With our 40 years of experience and technology ability, Foxconn will support Xpeng Motors to pursue technology and quality and effectively strike a balance between the two," Foxconn Interconnect Technology Ltd. Chairman and CEO Lu Songqiong said at a press conference on Jan. 29. "We are happy to be deeply involved in the development of internet-connected cars at such a crucial time."