Terry Gou founded Hon Hai Precision Industry Company Ltd, the anchor company of Hon Hai / Foxconn Technology Group in 1974 with US$7,500

Terry Gou founded Hon Hai Precision Industry Company Ltd, the anchor company of Hon Hai / Foxconn Technology Group in 1974 with US$7,500

The Tencent Penquin

The Tencent Penquin

You likely already know of the rumors that Apple wants to create its own EV. On a somewhat related note, the company that assembles the iPhone, Foxconn Technology Group, has recently partnered up with Tencent Holdings and a China auto dealership, China Harmony Auto to create "smart electric cars" for China.

No one is certain when these EVs will be available to the Chinese consumer market, but Foxconn wants them to cost ~ $15,000 or less.

Foxconn claims that it will invest over $800 million to produce these EVs, and that these partnerships will "pave the way for a new business model, and bring about more product innovation," according to PC World.

We wait patiently for the arrival of these low-cost electric cars from Foxconn/Tencent.

Source: PC World. Forbes