Foxconn Chief Wants to Manufacture EVs for Tesla

At the company’s yearly Tech Day event, the chairperson of Apple’s leading iPhone assembler Foxconn revealed he is hoping to diversify the company’s business by boosting electric vehicle (EV) manufacturing (via Tesla North).


Liu Young-way stated that Foxconn hopes it can someday manufacture cars for Tesla. “I hope one day we can do Tesla cars for Tesla,” said Liu, while noting that Foxconn wants to avoid selling its own EV brands and instead hopes to sell “a lot” of EVs through other companies.

“Based on our past records for the PC and cellphone markets … we’re at about 40-45% of the overall market share. So, ambitions-wise, hopefully we are able to achieve the same kind of achievement like in the ICT (information and communications technology) industry, but we will start small, which is about 5% in 2025,” Liu added.

Liu said that Foxconn wants to build EVs in Taiwan, Thailand, and the U.S., and that it’s currently in negotiations with companies in Indonesia and India.

“Despite the challenges of conflict in Europe and COVID globally, Foxconn has maintained our EV strategy,” Liu said.

“Supply chain resilience has always been Foxconn’s DNA. Our global footprint in 24 countries gives us a huge advantage to meet EV industry demands.”

Foxconn has recently partnered with Fisker and India’s Vedanta on EVs and semiconductors.