CHINA: Foxconn and Tencent strike deal to develop 'smart electric car'
Chinese internet giant Tencent and Taiwan-based Foxconn Technology Group, a major Apple supplier, have announced plans to make a "smart electric car".
Media reports in China suggest the deal also includes luxury car dealership China Harmony Auto, with all three companies establishing a special team for the project.
Foxconn is best known as the subcontractor that assembles Apple's iPhone. Foxconn CEO Terry Gou has said that the company needs to move into other technology sectors, including robotics and electric vehicles. Tencent runs China's largest messaging services, in addition to a other web-based services including cloud computing.
Reports says the companies will likely manufacture the cars in Zhengzhou, where Foxconn has one of its largest facilities. However, no details are available on timing.