These days, everybody wants in the electric car business. Everybody except established car manufacturers, that is. Success stories like Tesla, NIO or maybe Rivian (finger crossed) drive the segment, and new players announce their projects every day. Best in line to get to the EV Nirvana are electronics producers. No wonder that news about future car producers like Xiaomi or Foxconn raise an eyebrow.

As far as Foxconn is concerned, the electronics giant already announced an entire range of electric vehicles, although their naming scheme might not go well in Chicago. Not content with producing his own cars, Foxconn announced a partnership with Saudi Arabia's Public Investment Fund to help the Gulf country produce their own electric cars. The move is said to help the oil-dependent country diversify its economy, away from fossil fuels.

Read Article

Foxconn Teams Up With Saudi Arabia’s Public Investment Fund To Create Electric Cars Under Velocity Brand

About the Author