Geely and Foxconn form a JV for the production of EVs

18 January 2021, 02:48:29

Geely and Foxconn form a JV for the production of EVsZhejiang Geely Holding Group (Geely Holding) and Foxconn Technology Group (Foxconn) signed a strategic cooperative agreement that will establish a joint venture company to provide OEM production and comprehensive customized consulting services relating to whole vehicles, parts, intelligent drive systems, automotive ecosystem platforms, electric vehicle industry value chain, etc to global automotive enterprises.

The new joint venture will revolutionize the automotive industry model by introducing the Information and Communication Technology (ICT) division of labour to help automakers accelerate their transition to new innovative and efficient manufacturing processes and business models based on CASE (Connected, Autonomous, Shared, and Electrified) technologies. Each party to hold 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.

Young-way Liu, Chairman of Foxconn Technology Group said: "This alliance between Geely Holding and Foxconn represents a milestone in cooperation between the automotive industry and ICT industry. With Foxconn's globally leading R&D technologies, intelligent manufacturing, and hardware-software integration capabilities, the two parties form a highly complementary partnership which allows us to better serve and meet the diverse needs of different customers, and offer the most advanced, fastest, cost-effective full value-chain vehicle production service platform. The partnership with Geely Holding does not just align with our company’s vision of "3+3=∞" which symbolizes the infinite possibilities created by Foxconn's industrial advancement and emerging technologies, it will also result in tremendous change in the development of the automotive industry. I look forward to the great potential that this partnership will bring about."

Daniel Donghui Li, CEO of Zhejiang Geely Holding Group said: "This cooperation between Foxconn and Geely is of great significance to both parties. The current global automotive industry is undergoing profound changes. We must actively embrace change, build alliances, and synergize global resources to create greater value for our end users. Foxconn's professional capabilities, rich experience, and global layout in the ICT industry offer important insight for the transformation and evolution of the automotive industry. Geely Holding Group will give full play to its advantages in the automotive fields of design, engineering, R&D, intelligent manufacturing, supply chain management, and quality control while joining forces with Foxconn to develop together and explore new pathways for transforming, improving, and achieving high-quality development of the manufacturing industry."

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EV Specifications

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Length: 195.0 in / 4953 mm
Width: 77.4 in / 1967 mm
Height: 66.8 in / 1696 mm
Curb weight: 5379.28 lb / 2440 kg
Electric motor #1: 250 kW, 400 Nm, Location: Rear
Electric motor #2: 200 kW, 352 Nm, Location: Front
Battery: 111.5 kWh, Voltage: 330.3 V

2022 BMW i4 M50

2022 BMW i4 M50

Doors: 5, Seats: 5
Length: 188.3 in / 4783 mm
Width: 72.9 in / 1852 mm
Height: 57.0 in / 1448 mm
Curb weight: 5048.59 lb / 2290 kg
Electric motor #1: 230 kW @ 8000 - 17000 rpm, Location: Rear
Electric motor #2: 190 kW @ 8000 - 17000 rpm, Location: Front
Battery: 83.9 kWh, Voltage: 398.5 V

2022 Hyundai IONIQ 5

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Length: 182.5 in / 4635 mm
Width: 74.4 in / 1890 mm
Height: 63.2 in / 1605 mm
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2022 Hyundai IONIQ 5

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Doors: 5, Seats: 5
Length: 169.5 in / 4305 mm
Width: 69.7 in / 1770 mm
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Curb weight: 3679.52 lb / 1669 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

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Length: 169.5 in / 4305 mm
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Electric motor: 150 kW, 360 Nm, Location: Front
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2022 Chevrolet Bolt EV

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Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
Width: 69.5 in / 1765 mm
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Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
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Length: 167.8 in / 4261 mm
Width: 71.2 in / 1809 mm
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