Contract Manufacturer Foxtron to Enter EV Market Under its Own Name, Acquires Taiwan’s Luxgen

Foxtron, the EV arm of Foxconn (Hon Hai Precision Industry Co), the world’s largest electronics contract manufacturer, is set to pivot its business and enter the Taiwanese domestic market with its own brand of electric passenger cars. The move also sets it up to become an exporter, with a US entry on the cards in the near future.

The company, which is a joint venture between Taiwan’s Foxconn and auto manufacturer Yulon, has acquired Yulon’s passenger car subsidiary, Luxgen. The deal was approved by both companies’ boards in mid-December, and DigiTimes now reports that regulatory and antitrust approvals have been received, allowing the deal to be finalised. The transaction has been valued at NTD 787.6 million ($24.95 million).

The acquisition gives Foxtron full control over Luxgen’s sales and distribution network as well as service infrastructure. Foxtron will also absorb all of Luxgen’s employees. Taiwan’s Commonwealth Magazine reports that the company has committed to retaining all staff, and has ruled out any layoffs. Interestingly, the Luxgen brand and intellectual property are not included in the deal. Yulon will also continue to own Luxgen’s combustion engine assets and could continue producing these models. 

Future models will be sold under Foxtron’s own brand, making it a major pivot for the B2B contract manufacturer and OEM. The company has already announced that its Model B SUV will be introduced as the Foxtron Bria, while the Model C SUV will be called the Camia. The Model C was previously sold by Luxgen under the name n7.

Foxtron has previously showed off these cars as concepts for OEMs to license and customise, along with the Model A and B compact cars, Model D MUV, Model E flagship sedan, Model T bus, Model U minibus, Model V pickup truck, and others. It has had limited success, with none of them coming to market outside Taiwan.

Foxconn had invested in a 6.2 million-square-foot EV manufacturing facility in the USA in 2022, to produce the Fisker PEAR (Personal Electric Automotive Revolution). The companies had ambitions to manufacture up to 250,000 units per year, based on a Foxtron design. However, the project did not take off, and Fisker Inc declared bankruptcy in early 2024. 

More recently, Foxconn signed an MoU with Mitsubishi to design and manufacture an unspecified type of EV scheduled to be launched in Australia and New Zealand in late 2026. Reports had also suggested that the Taiwanese giant was in talks with Nissan to partner on new commercial vehicles to be launched in Japan. This came after reports that Foxconn was considering buying Nissan outright following the latter’s failed merger talks with Honda.

In 2023, Foxconn was reported to have been interested in expanding its operations in India to include EV manufacturing. It committed to investing ₹15,000 crore in Tamil Nadu late 2025, potentially including an EV battery production facility. It is not yet known whether India will be a priority market for the new consumer brand.