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1/13, 10:35 AM (Source: TeleTrader)
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Geely, Foxconn team up to build EVs for carmakers

Zhejiang Geely Holding Group and Foxconn Technology Group reached an agreement on forming a partnership to provide manufacturing service and counseling to automakers across the globe, Geely said in a statement on Wednesday.

The joint venture is set to back carmakers' transition to electric vehicle technology, the two companies said. The new firm will have a five-member board of directors with a chairman and three members coming from the Taiwanese electronics manufacturer.

"Joining hands with Foxconn, Geely will leverage its systematic advantages in automotive design, engineering development, smart manufacturing, supply chain management and quality control to explore all-new approaches for the transition, upgrading and high-quality development of the manufacturing industry," Geely CEO Li Donghui asserted.

Breaking the News / GA