Hon Hai Precision Industry announced at the weekend that a total of 635 companies have agreed to participate in the development and production of a new “open” electric vehicle (EV) platform, according to local reports.

The company, better known as Foxconn, is a major Taiwan electronics manufacturer making the Apple iPhone among a wide range of electronic products.

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Hon Hai plans to establish a contract manufacturing business for electric vehicles and last month signed a strategic agreement with China’s Zhejiang Geely Holding Group to produce electric vehicles, components and advanced systems for third party vehicle manufacturers.

The company has brought together a large number of hardware and software companies to establish an effective supply chain for its electric vehicle business. It has been developing an EV platform, called the MIH Open Platform, versions of which will likely be offered to third party customers.

Company chairman Young Liu said participating companies are required to begin supplying products by the end of April 2021.