Geely taps Foxconn's playbook to build EVs for other carmakers

BEIJING -- Geely, China's largest private-sector automaker, has taken the first step toward becoming the Foxconn of electric vehicles.

Geely and Foxconn, the Taiwanese Apple assembler, are establishing a 50-50 joint venture that will manufacture whole electric vehicles for clients as well as parts. Just like Foxconn did with iPhones, Geely will pursue an economy of scale through contract manufacturing.