By Wen-Yee Lee and Eduardo Baptista
Taiwan's Foxtron Vehicle Technologies TWSE:2258, a joint venture between Foxconn TWSE:2317 and Yulon Motor TWSE:2201, launched an electric vehicle model called Bria on Thursday.
Versions of the model will initially be sold at three prices, ranging from around $28,600 to $36,540, Foxtron said, adding that Bria is the first EV model to be made in Taiwan for export globally.
Last week, Foxtron said it would acquire Yulon Motor's Luxgen passenger-car brand for T$787.6 million ($24.95 million), and that it would launch its Model B EV in Taiwan under the Bria brand.
Under the deal, Foxtron acquires 100% of Luxgen, including its five sales subsidiaries, sales outlets and employees, Foxtron said in a statement.
Following the transaction, Foxtron will take operational control, aiming to build a more comprehensive EV value chain in Taiwan, spanning product development, sales and after-sales services.
Foxconn, the world's largest contract manufacturer for iPhones, owns 45.6% of Foxtron and Taiwanese automaker Yulon owns 43.8%.
Foxtron operates a contract design and manufacturing services business model, under which it makes EVs for car brands.