Hon Hai betting on electric vehicles

The companies signed an agreement to work together in the city of Zhengzhou, China, the EMS-giant told Reuters without specifying details. The partnership will explore possibilities in smart electric vehicles utilising Tencent's internet platform, China Harmony Auto's dealership network and Foxconn's manufacturing capabilities, the report continues. However, unlike other partnerships looking to advance on the electric vehicle market, this one does not include a carmaker. Sure, Foxconn has had some experience manufacturing touch screens for Tesla, but that is pretty far from a complete car. But this might also indicate that the partnership is not looking to produce cars, but just like it states “opportunities related to electric vehicles”.