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Foxconn does not rule out the start of production of Tesla electric vehicles

Taiwanese tech company Foxconn hopes to start manufacturing Tesla-branded vehicles in the future as the main iPhone assembler ramps up electric vehicle production as part of a strategy to diversify its business.

Speaking at the annual Tech Day event, Chairman Liu Yang-Wei said that Foxconn wants to repeat its success in consumer electronics assembly by expanding the production of electric vehicles for automotive brands.

According to Yang-Wei, Foxconn has a 40% to 45% share of the PC and mobile assembly markets. The chairman of the board of directors predicts that the company will be able to achieve similar results in the production of electric vehicles - 5% by 2025.

Yang-Wei hopes that one day Foxconn will start making Tesla electric vehicles. However, the automaker manufactures its products independently, and is also rapidly increasing its production capacity.

In October, the words of the head of Tesla, Elon Musk, caused outrage in Taiwan. He proposed to transfer part of the control over the island state to China in order to reduce tensions between China and Taiwan.

Foxconn is negotiating the production of electric vehicles with companies from Indonesia and India. In recent years, Foxconn has announced deals with American startup Fisker and Indian conglomerate Vedanta. The company is using its years of experience in information and communications technology to cut electric vehicle design in half and development costs by a third, says Yang-Wei.

The Luxgen n7 is an electric vehicle created by a joint venture between Foxconn and Taiwanese Yulon Motor manufacturer Foxtron. The company reported receiving 15,000 pre-orders for the car in two days.

At Tech Day, Foxconn founder Terry Gow took to the stage in a Foxtron Model B electric vehicle. Also at the event, the Model V electric pickup truck was shown. Last year, the manufacturer demonstrated three prototype electric vehicles: an SUV (Model C), a sedan (Model E) and a bus (Model T). ). Foxtron electric buses are already in use in some cities in Taiwan.

Foxconn does not rule out the start of production of Tesla electric vehicles