Foxconn ramps up electric vehicle push and eyes Tesla as a partner
Sean Gallup

Foxconn Technology Co. (OTCPK:FXCOF) launched two electric vehicle prototypes this week as it continues to prep to enter the automobile manufacturing industry. That makes five concept cars that Foxconn has developed as it tries to show off its auto credentials.
The Taiwanese firm's stated goal is to design and manufacture vehicles for an existing brand and CEO Young Liu was not shy this week about mentioning Tesla (TSLA) as one of the EV players that it would like to build cars for in the future. 
Liu said Foxconn (OTCPK:FXCOF) is targeting 5% global market share of electric vehicle manufacturing by 2025 and envisions even much higher market share by 2030.
Foxconn (OTCPK:FXCOF) (OTCPK:HNHPF) is considered a possible option for EV upstarts looking to launch electric car ventures without making huge investments in the areas of development and manufacturing. The company already has a deal in place with Lordstown Motors (RIDE) in the U.S. and a manufacturing arrangement with Fisker (FSR). What about its iPhone partner? Analysts think Foxconn (OTCPK:FXCOF) is focusing on much different areas than Apple (AAPL), which by the latest rumors is investing largely in software and services for EVs and autonomous vehicles rather than traditional auto production with a partner.
Read about Foxconn's (OTCPK:FXCOF) recent production update about Q4.