Young Liu, chairman of Foxconn Technology Group, speaks in front of a Model C electric vehicle during an event in Taipei, Taiwan, on Tuesday, Oct. 18, 2022. Liu said he hopes one day that Foxconn can make cars for Tesla.
Foxconn , the biggest assembler of Apple’s iPhones, wants to one day build cars for Tesla , the company’s CEO said, as it pushes further into electric vehicle manufacturing.
Hon Hai Technology Group, Foxconn’s official name, launched two electric vehicle prototypes on Tuesday — the Model V pickup truck and Model B sports crossover hatchback.
But Foxconn doesn’t want to sell its own-brand cars. Instead it wants to design and manufacture vehicles for other automakers. The company claims that it can cut the design time of a car in half and reduce the development cost by a third for an automaker wanting to use its services.
The Taiwanese firm has big ambitions. Young Liu, CEO and chairman of Foxconn, said on Tuesday that the company is targeting 5% market share globally of electric vehicle manufacturing by 2025, adding that he hopes Tesla will be a customer.
“I hope one day we can do Tesla cars for Tesla,” Liu said.