Chairman Liu Young-way of Taiwanese tech giant Foxconn states that the company is considering building electric cars in Europe, India, and Latin America, including ‘indirectly’ partnering with German automakers.

Formally known as Hon Hai Precision Industry Co Ltd., Foxconn aspires to be a key player in the global electric vehicle (EV) market and has signed agreements with Fisker Inc of the US and PTT PCL of Thailand.

Speaking to the press during a business forum in Taipei, Liu said that he did not reveal any details about the company's intentions for Europe, India, and Latin America due to confidentiality limitations, after unveiling three EV prototypes.

"I agree that Europe will be a little quicker. But I'm afraid I won't be able to tell you where it is”, he adds.

When asked if they would work with German car companies, he answered indirectly, adding that Europe would come first, followed by India and Latin America, with Mexico being quite possible.

Liu has previously proposed Mexico as a potential EV manufacturing location.

He claims they would use Foxconn's BOL strategy, which entails investing with partners to construct and operate local plants before selling to local consumers.

This month, Foxconn purchased a facility in the United States from Lordstown Motors Corp to produce electric vehicles. It purchased a semiconductor facility in Taiwan in August to meet future demand for automotive chips.

Foxconn, well known for producing iPhones for Apple Inc, has set a goal to supply components or services for 10 percent of the world's electric vehicles by 2025-2027, as part of a strategy to diversify revenue streams away from contract electronics manufacturing.

Earlier at the same meeting, Liu stated that Taiwan has a natural advantage in the production of EVs due to its current strengths in software and electronics.

“These are the advantages that Taiwan has long developed and excelled in”.

Foxconn's stock rose 0.5 percent, outpacing a 0.1 percent drop in the broader market.

They have risen nearly 17 percent since the beginning of the year.