Apple iPhone maker Foxconn says it desires to make vehicles for Tesla

Foxconn, the largest assembler of Apple’s iPhones, desires to at some point construct vehicles for Tesla, the corporate’s CEO stated, because it pushes additional into electrical automobile manufacturing.

Hon Hai Expertise 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 wish to promote its own-brand vehicles. As an alternative it desires to design and manufacture autos for different automakers. The corporate claims that it could lower the design time of a automobile in half and cut back the event value by a 3rd for an automaker wanting to make use of its companies.

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

“I hope at some point we are able to do Tesla vehicles for Tesla,” Liu stated.

Tesla presently manufactures its personal vehicles at its factories all over the world — in its U.S. areas and in Berlin and Shanghai.

Elon Musk’s Tesla was not instantly accessible 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 vehicles. 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 prospects to promote “numerous EVs.”

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

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

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

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

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