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Electric cars in China

Apple assembler Luxshare to build EVs as Foxconn-style contractor

Chinese maker of AirPods launching joint venture with Chery

A Chery New Energy electric vehicle on display in Guangzhou. The Chinese company offers EVs priced around 100,000 yuan ($15,700). (Photo by Takashi Kawakami)

GUANGZHOU -- Chinese electronic parts supplier Luxshare Precision Industry, which assembles AirPods earbuds for Apple, is forming a joint venture to develop and manufacture electric vehicles for other companies with the Chery group.

Luxshare will take a 30% stake in the new company, with the rest to be owned by Chery Automobile electric-vehicle unit Chery New Energy, under recently announced plans. The venture is to be established within the next three months with a capitalization of around 1.7 billion yuan ($267 million). Its vehicles will not sport Luxshare's brand.

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