Foxconn wants to produce electric cars in Europe, India and Latin America

Liu Yangwei, chairman of Taiwan technology giant Foxconn, said on October 20 that the company was considering producing electric cars in Europe, India and Latin America, including "indirect" cooperation with German carmakers, according to foreign media reports.

Foxconn, also known as Foxconn Group, aims to become a major player in the global electric vehicle market and has reached agreements with US electric car start-up Fisker and Thai energy group PTT PCL.

After unveiling three electric prototypes at a business forum in Taipei on October 18, Mr Liu said he could not provide any details of Foxconn's plans in Europe, India and Latin America because of "disclosure restrictions".

"our plan in Europe will be carried out soon, but I can't tell you exactly where the factory will be built," he said. "

When asked whether Foxconn would cooperate with German car companies, Liu Yangwei said it might do so "indirectly". Foxconn will give priority to production in Europe, followed by India and Latin America, he added, adding that production is also "very likely" in Mexico.

In May, Foxconn and carmaker Stellantis announced a joint venture to provide on-board and intelligent networking technology to the entire auto industry.

In August, Foxconn bought a chip factory in Taiwan to meet future demand for automotive chips. In October, Foxconn bought a factory from Lordstown Motors, an American start-up, to make electric cars.

Foxconn has set a goal of supplying parts or services to 10 per cent of the world's electric vehicles between 2025 and 2027.