Electric cars have been the main focus of Foxconn’s development in recent years. Foxconn Chairman Terry Guo has openly and repeatedly talked about his ambition to develop the electric car industry, and Foxconn has invested heavily in numerous Chinese electric car enterprises. They have also collaborated with Mainland Chinese internet and telecommunications platforms, including Tencent and Alibaba.

Currently Foxconn is China Harmony Auto Holding Company’s second biggest investor. Furthermore, Foxconn, China Harmony Auto Holding Company, and Tencent have signed a cooperation agreement for electric cars, and the three companies will collectively develop electric car industries in Mainland China.

China Harmony Auto Holding Company Executive Director, Operation President, and Vice-President Mr. Yang Lei stated that during the next two years they will join hands with Alibaba in establishing 300 service centers in 15 Mainland Chinese provinces in order to develop vehicle aftermarket maintenance and repair services.

Mr. Yang also stated that China Harmony Auto Holding Company and Alibaba will collaborate on developing new business models. Currently China Harmony Auto Holding Company has already established a flagship store and franchise store on the Tmall platform for online sales of luxury cars, electric cars, second-hand cars, and automobile maintenance and repair services. In the future, the two parties will collaborate on launching an online automobile financing service.

(TR/ Phil Sweeney)