foxconn

Faraday Future named former Jaguar Land Rover executive Xuefeng "Chris" Chen as the chief executive of its China division as the company prepares to enter the world's largest electric vehicle market and develop its binational market strategy.

With a new Chinese investor, Faraday is focused on developing its market in China, which is over triple the size of the U.S. market, according to a 2019 report by the International Energy Agency.

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Fisker Inc. wants to make an electric car for global markets, and it plans to team with a manufacturer of Apple devices to make it a reality in less than three years.

Foxconn, the Taiwanese electronics producer, and the Manhattan Beach-based automaker announced Wednesday that the two companies signed a memorandum of understanding to develop and build an electric car toward the end of 2023 destined for not only North America and Europe markets, but also China and India. Fisker will lean on Foxconn's experience with supply chain for electric components, while it likely focuses on design. A formal partnership is expected sometime in the second quarter.

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