. Chairman Liu Young-Way says his company plans to build cars in Taiwan, Thailand, and the United States, and is negotiating with partners in Indonesia and India.that Foxconn has created a joint venture with PIF, an offshoot of the Saudi Wealth Fund, to manufacture a line of new electric cars and SUVs in Saudi Arabia that will be sold locally and throughout the Middle East and Northern Africa. The company is called Ceer and is part of a plan to build new industries and lessen dependence on oil.
The joint venture “will license component technology from BMW for use in the vehicle development process. Foxconn will develop the electrical architecture of the vehicles, resulting in a portfolio of products that will lead in the areas of infotainment, connectivity and autonomous driving technologies,” PIF said in its press release.