Apple iPhone maker Foxconn says it wants to make cars for Tesla

Young Liu, chairman of Foxconn Technological know-how Team, speaks in front of a Product C electrical auto in the course of an party in Taipei, Taiwan, on Tuesday, Oct. 18, 2022. Liu reported he hopes just one working day that Foxconn can make autos for Tesla.

I-Hwa Cheng | Bloomberg | Getty Images

Foxconn, the largest assembler of Apple’s iPhones, desires to just one day make cars and trucks for Tesla, the company’s CEO said, as it pushes more into electrical vehicle manufacturing.

Hon Hai Technological know-how Team, Foxconn’s official identify, introduced two electric motor vehicle prototypes on Tuesday — the Product V pickup truck and Model B sports activities crossover hatchback.

But Foxconn won’t want to offer its own-model autos. As an alternative it needs to design and manufacture autos for other automakers. The firm statements that it can cut the design and style time of a motor vehicle in 50 percent and lessen the improvement price by a third for an automaker seeking to use its solutions.

The Taiwanese business has big ambitions. Youthful Liu, CEO and chairman of Foxconn, claimed on Tuesday that the company is concentrating on 5% marketplace share globally of electric vehicle producing by 2025, incorporating that he hopes Tesla will be a buyer.

“I hope a person working day we can do Tesla cars for Tesla,” Liu mentioned.

Tesla currently manufactures its possess autos at its factories all-around the entire world — in its U.S. destinations and in Berlin and Shanghai.

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

In excess of the earlier two a long time, Foxconn has been ramping up its electrical automobile small business.

Past yr, the organization unveiled a few prototype cars and trucks. Two of people are at the moment on the roads. The Product T electric powered bus is component of the public transportation method in Taiwan and the Product C is a generation car branded as the Luxgen n7 by Taiwanese automaker Yulon Motor.

Liu mentioned he would like Foxconn’s consumers to sell “a lot of EVs.”

Foxconn has created its organization in excess of the last couple of many years in customer electronics manufacturing and assembly. But the enterprise is now making an attempt to diversify into new regions, with electrical cars and trucks a crucial target.

The 5 principle automobiles demonstrate that Foxconn “can style and design and build EVs that are good-wanting and can stand up to protection,” Liu claimed.

Element of its existing method is to display off its abilities in the electric automobile room at a time when quite a few firms, in certain firms that have not traditionally been in the automobile house, are jumping into the sector.

In China for case in point, smartphone maker Xiaomi and internet organization Baidu, have introduced electric powered automobile corporations with an aim to mass deliver vehicles.

Foxconn could be an selection for providers on the lookout to launch electric automobile ventures without the need of the need to have to sink massive investments into individual style and producing ventures.