foxconn in A joint Venture t build Electric cars in Saudi Arabia

vehicles, a move that could help accelerate plans by the oil-dependent kingdom to diversify its economy, according to people familiar with the matter. Foxconn will provide software, electronics and the electrical architecture for the new EVs and will be a minority stakeholder in the collaboration while Saudi Arabia’s Public Investment Fund will create a new entity named Velocity to be the majority stakeholder of the joint venture. What is your thoughts about Electric vehicles ?