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

Taiwan’s Foxconn 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 companies said in a statement.

 

It marks the latest move by Foxconn, a major Apple Inc supplier, into autos after a tie-up with Chinese electric car startup Byton and comes amid reports that Apple 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.