Geely and Foxconn Form Chip Manufacturing Joint Venture

Beijing (Gasgoo) – Geely Holding and Foxconn’s Shenzhen subsidiary have co-established an automotive semiconductor manufacturing company, Shandong Fujikang Intelligent Manufacturing Co., Ltd. (Fujikang), according to the corporate database, Qichacha.

Geely ZEEKR; photo credit: ZEEKR

Fujikang was registered on December 27, with a registered capital of 100 million RMB. Geely Holding and Futaihua Industry (Shenzhen) Co., Ltd. each hold 50% of Fujikang’s stake.

Earlier in 2021, Foxconn and Geely Holding already signed a strategic cooperation agreement, announcing their decision to form a joint venture, serving the global automotive industry and mobility companies in manufacturing and customization.

According to Qichacha, Fujikang’s business areas include intelligent on-board equipment manufacturing, intelligent control system integration, electric motor manufacturing, chip and integrated circuit product manufacturing, and industrial design services. .

Judging from the permitted areas of activity of the joint venture, Geely could build its own supply chain of new energy vehicles, trying to minimize possible influences caused by any supply shortages.

Notably, Foxconn has long been expected to make an independent foray into the auto industry. In January 2021, the company expressed interest in helping Byton with its car manufacturing business, but the plan was stalled due to Byton’s deteriorating financial situation. The cooperation with Geely marked another attempt by Foxconn in the automotive industry.

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