Foxconn is partnering with China’s Geely to construct vehicles for different automakers
The Foxconn logo will be displayed on a Foxconn building in Taipei on January 31, 2019.
Sam Yeh | AFP | Getty Images
Foxconn and Chinese automaker Geely have formed a joint venture to sell manufacturing and services to the global auto industry.
The deal, announced on Wednesday, marks Foxconn’s continued expansion into the automotive sector and reflects Geely’s desire to work with technology companies.
Foxconn and Geely will provide auto manufacturing, consulting, intelligent driving systems and other services to global auto companies, the two companies said.
Taiwanese company Foxconn is best known as the company that assembles Apple’s iPhones. Last year, a platform was launched to support automotive companies in the manufacture of electric cars. And this month, Foxconn signed a deal with Chinese electric car maker Byton to support the production of its first vehicle.
Meanwhile, Geely signed a deal with the Chinese search engine giant Baidu to become a minority shareholder in a new stand-alone electric vehicle maker. Geely will be the manufacturing partner in Baidu’s new venture.
Foxconn and Geely will each hold 50% of their joint venture.
In theory, automakers could come to Foxconn and Geely to design and even manufacture their next car. The vehicle produced bears the name and branding of the automaker.