Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers, Trend reports with reference to Reuters.
They will each hold 50% of a joint venture that will also provide consulting services on electric vehicle (EV) technologies to automakers, the companies said in a statement.
Geely launched its first EV-focused platform in September and said would share the architecture with other automakers. It also said this week that it has partnered with Chinese search engine giant Baidu Inc to make EVs.
Foxconn, whose official name is Hon Hai Precision Industry Co Ltd and is best known as a major supplier to Apple Inc, said in October it aimed to provide components or services to 10% of the world’s EVs by 2025-2027.
It has agreed to start building electric sport-utility vehicles in 2022 with Chinese startup Byton.