TAIPEI (Taiwan News) — Taiwan iPhone maker Foxconn (Hon Hai) and Formosa Plastics Corp. (FPC) have partnered up to cooperate on electric vehicle (EV) manufacturing.

Foxconn Chairman Young Liu (劉揚偉) recently led a team to visit FPC and meet with the company’s management committee, UDN reported.

Liu’s visit was intended to confirm FPC’s involvement in Foxconn’s ambitious EV project, according to sources familiar with the matter. FPC has been successful in developing EV batteries in recent years.

Meanwhile, Foxconn has been rushing to develop its own EV batteries. Last October, the electronics manufacturer hosted the first "Hon Hai Technology Day" to showcase EV-related technologies and key component capabilities. During the event, it also announced its goal of launching the first commercial solid-state battery for EVs by 2024.

Foxconn is currently focusing on two major products: solid-state batteries and lithium iron phosphate batteries. The two battery types will be revealed at the second Hon Hai Technology Day, in October.

Additionally, Foxconn is promoting its MIH Open Platform Alliance. FPC has joined already joined the alliance, as many of its products, including polymer and carbon fiber, can be used in automobile manufacturing.