iPhone maker Foxconn has repeated ambitious plans to become a global supplier of electric vehicles (EV), citing geopolitical tension between China and Taiwan.
“As a business, as a chief executive, I have to think about what if the worst case happens,” the Taiwan-based firm’s boss, Young Liu, told the BBC.
Liu dubbed the EV market as a “great opportunity” for Foxconn, which builds iPhones and other products for Apple, and one worth exploring if relations continue to sour between China and Taiwan.
"The reason why we think this is a great opportunity for us is that with the traditional [cars], you have engines which are mostly mechanical. But with EVs, it's batteries and motors," he said.
Hinting to a move away from Chinese-based production, where the bulk of Foxconn’s assets are based, Liu said: “It doesn't make sense for you to make [EVs] in one place.”
Factories could be set up in the US, Thailand, Indonesia or India, he continued, amid plans by the technology giant aiming for a 5% share of the global EV market in the coming years.
Discussing Foxconn’s growing maiden range of EVs, Liu added the company was already “very familiar” with the technology, likening the centre console to “a big iPhone”.