Tech giant Hon Hai on Monday unveiled three electric vehicles it had developed in collaboration with Taiwan automaker Yulon Group. The vehicles: a sedan, an SUV and a bus, are Hon Hai’s first foray into the EV industry. The company says it will continue its progress in the sector with a goal of capturing 5% of the world’s EV market by 2025.

To celebrate the birthday of Hon Hai Founder Terry Gou, the tech group held “Hon Hai Tech Day” in Taipei’s Nangang on Monday morning.

Gou himself entered the venue on an electric car developed by the company, to the delight of techies and media.

Terry Gou
Hon Hai founder
For me, it’s the best birthday present I could receive as I turn 71. For Taiwan, it shows what Taiwan’s industry can achieve in just one year.

Earlier this year, Hon Hai formed the MIH Alliance for electric vehicle development, announcing it together with Yulon Group last year. The two companies have so far developed three different kinds of electric vehicles: a sedan, an SUV and a bus, all of which were unveiled on Monday. The most powerful one can accelerate from zero to 100 kilometers an hour in just 2.8 seconds, with a 750 horsepower engine and a range of up to 750 kilometers.

Young Liu
Hon Hai CEO
When we released our promotional video, some people said that Hon Hai’s electric bus was all just virtual renderings. They were wrong. That’s why today we brought the electric bus in.

Lilian Chen
Yulon Group CEO
This is the progress that Taiwan’s automotive industry has achieved over these past few decades. We can absolutely show our talents and drive transformation, to upgrade Taiwan’s industry.

Hon Hai has placed its bets on the electric vehicle market, which it says will be booming in the future. The company says it will continue promoting the MIH Alliance platform to attract more firms. The electronics giant is taking steps to become a tech giant, with goals to grab 5% of the global electric vehicle market in 2025.