Apple's Most Trusted iPhone Manufacturer Will Soon Be Building Tons Of Electric Cars

Apple's Most Trusted iPhone Manufacturer Will Soon Be Building Tons Of Electric Cars

Taiwan-based Hon Hai Precision Industry, better known as Foxconn, is the world's largest contract electronics manufacturer, thanks to lucrative manufacturing contracts to produce Apple's iPhone, iPad and other devices.

But it is increasingly a big player in electric car rentals in China, announcing plans today to expand its electric-car rental business in ten more cities in China. The company started the business in Beijing just last year.

Foxconn, in partnership with Chinese automaker BAIC, now has 200 charging stations offering more than 1,000 BAIC E150 electric cars for rent in Beijing.

Earlier this year Hon Hai has launched in Hangzhou and Changzhou in the eastern provinces of Zhejiang and Jiangsu respectively. Guiyang, located in southwest Guizhou province, will begin with 100 electric cars in July.

As the company looks to open ten new operations this year candidate cities include the megacities of Shanghai and Shenzhen, in addition to Wuzhou in southern China's Guangxi Zhuang region.

Users book the cars through the company's smartphone app, website and via the WeChat platform, China's version of WhatsApp. The company works with Alibaba's Alipay unit for online payment.

The electric vehicle rental business doesn't make much revenue for the company as the market is still young.

But the most interesting part is that Hon Hai is aiming for the bigger contract manufacturing market behind it, according to one source.

Which means Apple's number one builder of devices will very soon have all the tools to mass produce electric vehicles.

Its not a great leap of logic to imagine Foxconn making electric cars based on Apple designs, should the iPhone maker wish to enter the market.

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