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Foxconn to make electric cars in China with Fiat Chrysler

Apple supplier joins EV race, seeking growth beyond phones

Fiat Chrysler at the North American International Auto Show: The automaker will make electric vehicles with Foxconn in China, the Taiwanese group announced.   © Reuters

TAIPEI -- Foxconn, the world's biggest contract electronics manufacturer, said Thursday it will develop electric vehicles with Fiat Chrysler Automobiles, as the Apple supplier seeks new growth drivers to combat the slowing smartphone industry.

Fiat Chrysler will hold 50% of the venture, while Foxconn will own no more than 40%, the Taiwanese company said. A contract is to be signed this quarter.

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