Taiwan’s Hon Hai Precision Industry Company unveiled three electric vehicle (EV) prototypes at its Tech Day event in the Taipei Nangang Exhibition Centre.

The company, widely known as the Apple contract manufacturer Foxconn, has been aggressively expanding into EVs in the last two years by developing the MIH open platform and related supply chain for third party customers.

Earlier this year, the company established Foxtron Vehicle Technologies in partnership with local automaker Yulon Motor.

The three in house developed EV models unveiled this week include the Model C recreational vehicle, the Model E luxury sedan and the Model T battery powered bus.

The 750hp Model E was developed jointly with Italian design firm Pininfarina and is said to accelerate from 0 to 100km/h in 2.8 seconds and to have a range of 750km.

The medium duty bus, powered by a 400Wh battery pack, will go into production in partnership with the local Kaohsiung Bus Company from late next year while the Model C and Model E are to be sold initially under Yulon Motor’s Luxgen Motor and China Motor Corporation brands.

The company also has partnership agreements with Europe’s Stellantis, US startup Fisker, Thailand’s PTT and, earlier this month, was reported to be looking at buying US-based Lordstown Motors.

Hon Hai chairman Young Liu said he expected the electric vehicle business to begin contributing to group revenues as early as next year, adding: “We anticipate significant revenue contribution by 2023 and for EVs to be Hon Hai’s next trillion NTD business in five years.”