U.S.-based tech giant Nvidia and Taiwanese semiconductor corporation Foxconn will unite efforts in developing the technologies for electric and autonomous vehicles, TASS reports quoting Taiwanese media. The two companies intend to design cars to sell to third parties for mass production. Foxconn is even willing to start a car manufacturing business of its own.
In the newly created joint enterprise, Nvidia will be building data processing centers for training AI models to be used in self-driving systems.
In turn, Foxconn plans to design autonomous vehicles for other companies to license and produce as soon as the local authorities lift the restrictions preventing this kind of activity. According to the company CEO, Young Liu, China has around 200 competing manufacturers right now and loosening the outsourcing legislation a bit could go a long way towards improving the situation.
Foxconn envisions the construction of a number of EV factories in Taiwan capable of producing between 50,000 and 100,000 vehicles every year. As many as 23 related projects have already started, and the company is in talks with 14 potential clients. After China, Foxconn believes India and Japan to be its most promising target markets.