Foxconn, the largest assembler of Apple’s iPhones, desires to in the future construct automobiles for Tesla, the corporate’s CEO stated, because it pushes additional into electrical automobile manufacturing.

Hon Hai Know-how Group, Foxconn’s official identify, launched two electrical automobile prototypes on Tuesday — the Mannequin V pickup truck and Mannequin B sports activities crossover hatchback.

However Foxconn does not need to promote its own-brand automobiles. As an alternative it desires to design and manufacture automobiles for different automakers. The corporate claims that it could lower the design time of a automobile in half and cut back the event price by a 3rd for an automaker wanting to make use of its companies.

The Taiwanese agency has massive ambitions. Younger Liu, CEO and chairman of Foxconn, stated on Tuesday that the corporate is concentrating on 5% market share globally of electrical automobile manufacturing by 2025, including that he hopes Tesla can be a buyer.

“I hope in the future we will do Tesla automobiles for Tesla,” Liu stated.

Tesla presently manufactures its personal automobiles at its factories world wide — in its U.S. areas and in Berlin and Shanghai.

Elon Musk’s Tesla was not instantly out there for remark when contacted by CNBC.

Over the previous two years, Foxconn has been ramping up its electrical automobile enterprise.

Final 12 months, the corporate unveiled three prototype automobiles. Two of these are presently on the roads. The Mannequin T electrical bus is a part of the general public transportation system in Taiwan and the Mannequin C is a manufacturing automobile branded because the Luxgen n7 by Taiwanese automaker Yulon Motor.

Liu stated he desires Foxconn’s clients to promote “loads of EVs.”

Foxconn has constructed its enterprise over the previous couple of many years in shopper electronics manufacturing and meeting. However the firm is now attempting to diversify into new areas, with electrical automobiles a key focus.

The 5 idea automobiles present that Foxconn “can design and construct EVs which are handsome and might stand as much as security,” Liu stated.

A part of its present technique is to indicate off its capabilities within the electrical automobile area at a time when many firms, specifically companies that haven’t historically been within the auto area, are leaping into the market.

In China for instance, smartphone maker Xiaomi and web agency Baidu, have launched electrical automobile firms with an goal to mass produce automobiles.

Foxconn may very well be an possibility for firms seeking to launch electrical automobile ventures with out the necessity to sink enormous investments into personal design and manufacturing ventures.