Foxconn said on Tuesday it hopes to one day make cars for Tesla as it ramps up electric vehicle (EV) manufacturing in a strategy to diversify its business.
Speaking at the company's annual Tech Day, Chairman Liu Young-way said Foxconn, the world's biggest contract electronics maker, wants to replicate its level of success in assembling consumer gadgets as it expands into building EVs for auto brands.
"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 said.
"I hope one day we can do Tesla cars for Tesla."
Tesla Inc, which did not immediately respond to a request for comment, makes all of its EVs in-house and has been rapidly expanding capacity.
