Taiwanese tech company Foxconn, known as the assembler of Apple’s iPhones, said on Tuesday that it was hoping to make electric vehicles (EVs) for Tesla as it plans to venture into EV manufacturing to diversify its business. Company Chairman Liu said at the company’s annual Tech Day that Foxconn, the world’s biggest contract electronics maker, wants to replicate its success in building EVs for automakers.

“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 information and communications technology (ICT) 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.” he added.

Tesla currently manufactures all of its EVs in-house and has been expanding capacity rapidly.

Earlier this month, Tesla CEO Musk angered many in Taiwan when he suggested tensions between China and Taiwan could be resolved by handing over some control of Taiwan to Beijing.

Liu further pointed out that Foxconn will not aim to produce its own brand, but wants its customers to sell a lot of EVs, which will be produced in Taiwan, Thailand and the United States. Liu added that the company is negotiating with partners in India and Indonesia as well.

The company expanded into EVs and semiconductors in recent years, announcing deals with U.S. startup Fisker Inc. and Indian conglomerate Vedanta Ltd.

Liu further stated that the company wants to leverage its 48 year old experience in ICT manufacturing to halve EV design times and cut development costs by a third.

Luxgen n7, an EV built by Foxtron, a joint venture between Foxconn and Taiwanese automaker Yulon Motor, received 15,000 pre-orders in less than two days, according to Liu.

The company unveiled two prototypes in this year’s event. Three prototypes, an SUV, a sedan and a bus, were unveiled last year. Foxtron’s electric buses are already in service in some Taiwanese cities.