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Taiwan's Foxconn joins hands with China's Geely as Apple cars loom

They will each hold 50 per cent of a venture that will also provide consulting services on electric vehicle (EV) technologies to automakers

Topics
Foxconn | China | Apple

Yimou Lee | Reuters 

The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in Tucheng, New Taipei. Photo: Reuters
It marks the latest move by Foxconn, a major Apple Inc supplier, into autos after a tie-up with Chinese electric car startup Byton

Taiwan’s and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers.

They will each hold 50 per cent of a venture that will also provide consulting services on electric vehicle (EV) technologies to automakers, the said in a statement.

It marks the latest move by Foxconn, a major Inc supplier, into autos after a tie-up with Chinese electric car startup Byton and comes amid reports that is likely to launch a self-driving electric car by 2024. For Geely, the partnership will allow it to share its first EV-focused platform with other automakers.

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First Published: Thu, January 14 2021. 01:57 IST
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