Foxconn, Geely team up to build electric, autonomous and shared vehicles for automakers

The electric, autonomous vehicles of the future might be manufactured by Apple’s main supplier Foxconn and Chinese automaker Zhejiang Geely Holding Group.

The two companies have agreed to form a joint venture focused on contract manufacturing for automakers, with a specific focus on electrification, connectivity and autonomous driving technology as well as vehicles designed for sharing. Each party will hold an equal 50% stake in new joint venture. The board of directors will consist of five members with Foxconn appointing three including the Chairman and Geely Holding appointing two, according to a statement issued by the two companies.

The agreement follows moves by both companies to take larger roles in contract manufacturing for automakers. Earlier this…

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