iPhone – it is like BMW: Bavarians will “share” the platform with Apple

iPhone – it is like BMW: Bavarians will “share” the platform with Apple

FineAuto

In 2017, the Vietnamese conglomerate Vingroup founded a subsidiary VinFast and started producing cars on licensed BMW chassis, saving more than one million dollars on development. According to Automotive News Europe, the same scheme could be used by Taiwan’s Foxconn Technology Group (a manufacturer of iPhone, iPad and Xiaomi smartphones) and the government of Saudi Arabia. Their joint venture, Velocity, will produce electric vehicles on a BMW bogie – but which one is unclear.

Negotiations between Foxconn Technology Group and the Saudi Arabian government are far from over. However, if they prove successful, a new automaker will emerge in the Middle East country. The Velocity joint venture will be funded by the Saudi Arabian Sovereign Fund, which has a combined total of $ 450 billion. And Foxconn will be a minority shareholder, whose area of ​​responsibility is software, electronics and electrical architecture.

According to insiders, the parties are discussing the purchase of a licensed BMW platform, which one is unknown. The Bavarian brand is still building its own electric vehicles on one of the modular CLAR varieties (i4, iX), but by 2025 it promises to present the Neue Klasse architecture optimized for electric drive and hydrogen fuel cells.

Everyone is expected to benefit from the deal: BMW will gain a new source of income, Foxconn will increase its expertise in the automotive industry, the Saudis will take another step towards the implementation of the Saudi Vision 2030.

This strategy, outlined by the Saudi government in 2016, aims to diversify the economy; reducing the country’s dependence on oil exports; development of industry, tourism; and increased investment activity. The country’s sovereign wealth fund has already bought a 30% stake in Pagani, as well as invested in the construction of the futuristic smart city of Neom, which will stretch 260 kilometers along the coast of the Red Sea and will occupy an area of ​​26,500 square kilometers.

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