Taiwan's Foxconn is best known for crafting iPhones for Apple. Now, it wants to team up with Fiat Chrysler to develop electric cars.
Best known for making iPhones for Apple , Foxconn said in a statement on Friday that it is working with the Italian-American carmaker to"explore the possibility" of forming a joint venture to produce electric vehicles and develop a platform for cars that can connect to the internet.
The contract manufacturer's plans to join forces with Fiat Chrysler come as China's electric car market faces a few headwinds. Beijing wants new energy vehicles, a category that includes electric and plug-in hybrid cars, to make up at least a fifth of the country's auto sales by 2025. But sales of these cars in China shrank by 4% to 1.21 million last year.
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