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Geely model with hybrid drive
Photo: Ng Han Guan / AP
Long-time Apple supplier Foxconn and Chinese car maker Geely are entering into a partnership.
The companies announced that contract manufacturing and advisory services for car manufacturers and mobility companies were targeted.
They signed an agreement to set up a joint venture in which both partners will each hold half.
Taiwan-based Foxconn had recently teamed up with the financially troubled electric car maker Byton to help them build an electric SUV.
There has been a lot of movement in the auto industry in recent months as tech companies are increasingly pushing into the business of data and services for e-cars.
Geely has teamed up with Chinese search engine giant Baidu to make electric vehicles.
The integration of e-mobility and IT is currently a concern of all major car manufacturers.
Many German corporations slept through the development for a long time - and now have to make even greater efforts.
The news agency Reuters fired shortly before Christmas, citing insider rumors, that the Apple company wanted to launch an autonomous vehicle in a few years.
A few days ago, reports followed that the iPhone manufacturer wants to team up with the Korean car maker Hyundai.
Hyundai has confirmed that it has received requests from various companies to collaborate on the development of autonomous electric vehicles.
Should Apple put such a car on the road with Hyundai, it would not only be a challenge for the US electric car manufacturer Tesla.
All major car manufacturers are currently working on automated driving and are investing billions.
The alliance that has now been entered into marks a "milestone in the collaboration between the automotive industry and the IT industry," said Young-way Liu, chairman of the Foxconn Technology Group.
Geely, in turn, will contribute his expertise in design, engineering and supply chain management.
Geely is one of the top 20 largest auto companies in the world.
In 2019, the number of vehicles sold was around two million vehicles.
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