The Chemical Connection: Surface Finishes for PCBs
It’s Only Common Sense: 7 Tips to Focus on What Works
The Marketing Minute: Go Big or Go Home—Long-form Content Is Your Brand’s Best Friend
Geely Holding Group, Foxconn Form Joint Venture
January 14, 2021 | FoxconnEstimated reading time: 2 minutes
Zhejiang Geely Holding Group and Foxconn Technology Group signed a strategic cooperative agreement and will establish a joint venture company to provide OEM and customized consulting services relating to whole vehicles, parts, intelligent drive systems, automotive ecosystem platforms to global automotive enterprises and ridesharing companies.
The new joint venture will revolutionize the automotive industry model by introducing the Information and Communication Technology (ICT) division of labor 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.
Terry Gou, Founder of Foxconn, and Li Shufu, Chairman of Geely Holding Group, attended and witnessed the digitally held signing ceremony. Young-way Liu, Chairman of Foxconn and An Conghui, President of Geely Holding Group, President and CEO of Geely Auto Group, signed the agreement on behalf of the two companies.
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.
“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,” said Young-way Liu, Chairman of Foxconn Technology Group.
“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.”
“This cooperation 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 resources to create greater value for our 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.” said Daniel Donghui Li, CEO of Zhejiang Geely Holding Group.
Share on:
Suggested Items
IPC Releases March 2025 Global Sentiment of the Electronics Manufacturing Supply Chain Report
04/02/2025 | IPCThis past March, electronics industry demand strengthened to its highest level in nearly a year, indicating strong expansion in customer and manufacturing activity according to IPC’s [IPC-Current-Sentimen-Global-EMSChain0525.pdf] March Sentiment of the Global Electronics Manufacturing Supply Chain Report.
STMicroelectronics, Innoscience Sign GaN Technology Development and Manufacturing Agreement
04/02/2025 | STMicroelectronicsSTMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, and Innoscience, the world leader in 8” GaN-on-Si (gallium nitride on silicon) high-performance low-cost manufacturing, announce the signature of an agreement on GaN technology development and manufacturing, leveraging the strengths of each company to enhance GaN power solutions and supply chain resilience.
Federal Electronics Welcomes Joel Robbins as New Business Development Manager
04/02/2025 | Federal ElectronicsFederal Electronics, a leader in providing advanced electronic manufacturing services, is pleased to announce the appointment of Joel Robbins as Business Development Manager.
IPC APEX EXPO 2025 Review: Shifting My Focus to the Show Floor
04/02/2025 | John Watson, CIDIPC APEX EXPO 2025 marked a significant milestone as it celebrated its 25th anniversary. (Personally, I don’t think it looked a day over 20.) If you didn’t attend this great event, why not? This was my 10th anniversary of attending, and it had a distinctly different feel. There was a celebratory atmosphere as both veterans, like myself, and first-time attendees, were drawn into a celebratory occasion marking the significant milestone of the 25th anniversary.
Real Time with... IPC APEX EXPO 2025: Tariffs and Supply Chains in U.S. Electronics Manufacturing
04/01/2025 | Real Time with...IPC APEX EXPOChris Mitchell, VP of Global Government Relations for IPC, discusses IPC's concerns about tariffs on copper and their impact on U.S. electronics manufacturing. He emphasizes the complexity of supply chains and the need for policymakers to understand their effects.