Manufacturing News

Tencent, Foxconn partner with dealership group to produce EVs

Luxury car dealership group China Harmony Auto Holding will partner with Tencent Holdings and Foxconn Technology Group Co. to build electric vehicles in China.

The three companies plan to produce "intelligent Internet-enabled electric vehicles" in Zhengzhou, the capital of north China's Henan province, according to Harmony Auto.

Foxconn, a Taiwanese supplier with vast production capacity in China, will develop batteries, electric motors and control systems. Shenzhen-based Tencent, the world's fifth-largest Internet company, will offer its Internet platforms for infotainment.

Harmony Auto will contribute its expertise in vehicle sales and service, according to the framework agreement they signed last week.

Further details about the joint project have yet to be disclosed.

Harmony Auto, located in Zhengzhou and listed in Hong Kong, operates 46 franchised dealerships in China for BMW, Mini, Lexus, Land Rover, Lincoln, Infiniti, Volvo, Rolls Royce, Aston Martin, Ferrari and Maserati.

Harmony Auto is the latest Chinese automotive firm to join domestic Internet companies to develop connected vehicles.

Three state-owned Chinese automakers -- SAIC Motor Corp., Beijing Automotive Industry Holding Group Co. and Chery Automobile Co. -- have announced partnerships with Internet companies to develop connected vehicles.

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