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Foxconn works with Geely in China to build cars for other car makers

The Foxconn logo will appear on January 31, 2019 in the Foxconn building in Taipei.

Samye | AFP | Getty Images

Foxconn and Chinese automaker Geely have set up a joint venture aimed at selling manufacturing and services to the global automotive industry.

The deal, announced Wednesday, demonstrates Foxconn’s continued expansion into the automotive sector and reflects Geely’s desire to partner with tech companies.

Foxconn and Geely will provide automotive production, consulting, intelligent driving systems and other services to automotive companies around the world, they said.

The Taiwanese company Foxconn is best known as the company that assembles Apple’s iPhone. Last year, it launched a platform to help car companies build electric vehicles. And this month, Foxconn signed a contract with Chinese electric car maker Viton to support the production of the first car.

Meanwhile, Geely will sign a contract with Chinese search giant Baidu to become a minority shareholder in the new independent electric vehicle company. Giri will be a manufacturing partner for Baidu’s new venture.

Foxconn and Geely each own a 50% stake in the joint venture.

In theory, car makers could even come to Foxconn and Geely to design and build their next car. The vehicles produced will be given the name and brand of the car manufacturer.

Foxconn works with Geely in China to build cars for other car makers

Source link Foxconn works with Geely in China to build cars for other car makers

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