Foxconn building electric car factory in Zhengzhou, NY Times reports

Apple (AAPL) supplier Foxconn (HNHPF) is planning to build a new, 700-acre campus in Zhengzhou, China, to make electric cars, The New York Times’ Meaghan Tobin and John Liu report. For Foxconn, the investment in Zhengzhou is part of a broader push to reduce its dependence on Apple, and the company plans to make cars designed and sold by other companies, the way it has made iPhones for Apple, according to the report.