Geely and Foxconn join forces. The two companies have entered into a strategic agreement to advise carmakers on future technologies while helping to manufacture them. This also includes complete cars.
Geely and Foxconn are both not exactly unknown names. In 2020 Geely, which owns Volvo and Polestar, sold more than 1.3 million cars. Foxconn is known for manufacturing iPhones. The two companies are joining forces in a new joint venture, of which they will both own half. The aim of the joint venture is to advise car manufacturers on how to implement new technologies, such as autonomous driving, in their products, while providing a solution for their manufacture. This may involve the manufacture of parts, but also the production of complete cars. Geely’s expertise in the automotive field and Foxconn’s knowledge of ICT should help with this.
Foxconn has long had the ambition to enter the automotive industry and supply parts for EVs. According to Automotive News the company aims to supply parts for 10 percent of all global EVs between 2025 and 2027. Earlier it had already entered into a deal with Byton for the production of the M-Byte. According to sources within Geely, the automaker wants to use the partnership to share its SEA platform with other automakers. In addition, Geely would like to use its own production capacity of more than two million cars more efficiently. Earlier this week, Geely announced that it is working on an autonomous electric car together with Baidu. Perhaps Foxconn will play a significant role in this.
The collaboration between Geely and Foxconn may be of interest to another party: Apple. For the time being, it seems that the tech company is joining forces with Hyundai to develop its first car, but that agreement has not yet been officially confirmed. Since Geely has an EV platform and Foxconn is already a supplier to Apple, it is not inconceivable that Apple would choose to partner with them for ‘Project Titan’. It will be clear later who Apple will eventually work with.
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