Luxshare, Apple’s AirPods assembler, has invested in a new venture with the Cherry group to develop and manufacture electric vehicles of other companies. The deal is finalized amidst news of Apple’s own passenger electric vehicle expected to launch by 2025- 207.
Apple AirPods assembler, Luxshare enters the EV industry as an EV assembler for other auto-companies
Luxshare initially assembled AirPods for Apple and in 2021, it started assembling iPhones after the purchase of a Chinese manufacturing base from a Taiwanese company. And now in partnership with Chery Automobile electric-vehicle, it will manufacture EVs for other automobile companies. Nikkie Asia reports that:
Luxshare will take a 30% stake in the new company, with the rest to be owned by Chery Automobile electric-vehicle unit Chery New Energy, under recently announced plans. The venture is to be established within the next three months with a capitalization of around 1.7 billion yuan ($267 million). Its vehicles will not sport Luxshare’s brand.
Luxshare will not become a carmaker, said its chairwoman, Wang Laichun, on an investor conference call Sunday. It will work with Chery New Energy to develop a service of building good vehicles and aims to become a leading Tier 1 supplier in the world, she said.
Recently, Apple’s major iPhone assembler, Foxconn as well announced a deal with Indian group Vedanta to produce chips locally and plans to become a major contributor in the global EV market by producing chips for EVs. The Taiwanese manufacturer bought Lordstown Motors Corp’s auto plant in Ohio, U.S. which can possibly be used to manufacture Apple Car for the Cupertino tech giant.
Reportedly, Apple Car will offer level 5 self-driving autonomy without any human interference and will be powered by a new revolutionary mono-cell battery which will deliver a longer range and lower power consumption. Based on information from filed patents, Apple’s EV might feature a transparent sunroof with the ability to adjust its opacity, LED displays, LiDAR scanners to measure the distance from other objects, AR display, and more.