Foxconn probably made your iPhone. One day it may build your Tesla too. Hon Hai — the name under which Foxconn is listed in Taiwan — has just released two new electric cars. It plans to build electric cars for global brands. But being a Taiwanese company does little to shield it from the latest US-China trade sanctions.

Foxconn launched two new electric vehicles on Tuesday, prototypes of its Model B crossover SUV and the Model V pick-up truck. These back up its hopes to attract new outsourcing clients for electric vehicle production. It already makes electric cars for Taiwanese automaker Yulon Group.

For now, Foxconn’s profits remain dependent on its consumer electronics business for half of its sales. It is Apple’s main contract manufacturer of iPhones and also makes iPads and MacBooks. Cloud and computing products make up another 45 per cent of revenue.