Apple AirPod maker Luxshare venturing into electric vehicles: Report
Apple AirPods earbuds assembler Luxshare is planning to build electric vehicles as a Foxconn-style contractor. The Chinese electric parts supplier company has already joined hands with automaker Chery which manufactures and sells vehicles in China, reports Nikkei. The two companies will manufacture electric vehicles for other brands under their joint venture, claims the report.
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The joint venture of these two companies is also claimed to provide Luxshare's core automotive components business with cutting edge R&D design and mass production platforms.
As Luxshare claims, it aims to become a leading automotive component manufacturer. Also, it will test its own technologies on the vehicle platform that it will develop with Chery. On the other hand, the strategic partnership is expected to help Chery with the rapid improvement of its products’ performance on the basis of building an ODM model.
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The two companies are claimed to start production of their electric vehicles in the next 12-18 months. However, none of the companies has revealed, which automaker they will be making the first electric vehicle for. Luxshare has said that it would take the business of foreign legacy car companies and new smart EV brands in China as the joint venture’s core development direction.
This joint venture to make electric vehicles will be led by Chery, which brings years of experience in making vehicles. Luxshare on the other hand will provide support in terms of overall business and customers, claims the company.
Luxshare is not the only company that has taken such a step towards making electric vehicles. Another Apple partner Foxconn too has taken a similar step and aspires to manufacture electric vehicles. With electric vehicles increasingly relying on technology, several tech companies are aiming to grab a chunk in the rapidly bulging EV market.
