The company also assembles popular electronics sold by Microsoft, Amazon and Sony, making Foxconn world's biggest contract manufacturer.
Liu disclosed that Foxconn has no plans to manufacture cars but will make key components for EVs in partnership with global automakers to reach its 10% goal. The Taiwanese company now supplies some components to Tesla Inc.
Liu told Reuters that he wants to push Taiwan's EV industry "to the world".
The firm, which was formally called Hon Hai Precision Industry, is a major supplier to Apple and is seeking expansion from industries such as EVs, digital health and robots in a bid to diversify its global investments.
Apple supplier Foxconn aims to supply to 10% of global EVs
Foxconn also offers programs that developers can build on, some of which relate to vital functions and driverless cars, as the company appears to be trying to assemble nearly all of the parts required for an entire vehicle.
Japanese news outlet news outlet Nikkei Asia Review reported earlier this year that the operation of Foxconn's EV business will be handled mainly by group subsidiaries FIT Hon Teng, which makes automobile components, and FIH Mobile, Foxconn's Android smartphone assembly arm. "We need to move fast to grab market share", he said, referring to Foxconn's pledge to build an "open platform" to make key EV components including battery and auto internet services to vehicle makers.
He made the presentation during the company's Hon Hai Technology Day event, where he revealed details about its modular EV platform with a variety of chassis sizes, as well as support for different battery capacities, suspension types and ground clearance.
On the other hand, the company said it is working on so-called "solid-state batteries", which are seen as developing the next generation of current lithium-ion batteries used in cars, indicating that it expects to launch a "solid battery" in 2024.