Apple supplier Foxconn and Chinese automaker Zhejiang Geely announced Wednesday that they are partnering provide contract manufacturing for third-parties, Reuters reported. It adds to a growing number of stories concerning Apple and electric vehicles.
They will each hold 50% 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, launched in September, with other automakers, according to people familiar with Geely’s plan.
Check It Out: Apple Supplier Foxconn Joins Partnership to Build Cars for Third Parties