Apple iPhone maker Foxconn teams up with Chinese automaker Geely to make cars for other companies

The Foxconn logo is displayed on a Foxconn building in Taipei on January 31, 2019.

Sam Yeh | AFP | Getty Images

Foxconn and Chinese carmaker Geely have created a joint venture aimed at selling manufacturing and services to the global auto industry.

The deal, which was announced on Wednesday, marks Foxconn’s continued expansion into the auto sector and reflects Geely’s desire to partner with technology companies.

Foxconn and Geely will provide car production, consulting, intelligent driving systems and other services to global automotive enterprises, the two companies said.

Taiwanese firm Foxconn is best known as the company that assembles Apple’s iPhones. Last year, it launched a platform to help automobile companies make electric cars. And this month, Foxconn signed a deal with Chinese electric carmaker Byton to help produce its first vehicle.

Meanwhile, Geely inked a deal with Chinese search giant Baidu to be a minority shareholder in a new standalone electric vehicle company. Geely will be the manufacturing partner in Baidu’s new venture.

Foxconn and Geely will each hold a 50% stake in their joint venture.

In theory, automakers could come to Foxconn and Geely to design and even manufacture their next car. The vehicle that is produced will bear the automaker’s name and branding.

Products You May Like

Articles You May Like

6 NASA Technologies to Get Humans to Mars
Spot and Nibble: First 2 Female Eagle Ray Fishes That Weirdly Give Birth Without Males
Lessons from the host defences of bats, a unique viral reservoir
The Science of the 36 Questions That Help People Fall in Love
Start-up tackling decarbonization of trucking sector gets funding from Amazon climate fund, Grantham

Leave a Reply

Your email address will not be published. Required fields are marked *