Stellantis and Foxconn to announce partnership soon

Stellantis and Foxconn are set to announce a strategic partnership later today, which is expected to focus on the development of electric vehicles. Further details will be revealed via a conference which will be attended by Carlos Tavares, CEO of Stellantis; Young Liu, chairman at Foxconn; Yves Bonnefont, chief software officer at Stellantis; and Calvin Chih, CEO at FIH, a subsidiary of Foxconn.

Last year, Fiat Chrysler Automobiles (FCA), which has since merged with PSA Group to form Stellantis, revealed its intention to set up a joint venture with Hon Hai Precision Industry (trading as Foxconn Technology Group) to build EVs and developed internet-connected vehicles for China.

However, the plan never came to fruition due to the aforementioned merger that resulted in Stellantis, which is now seeking a relaunch in China, the world’s largest EV market. As such, the imminent partnership would boost Stellantis’ competitiveness in China.

Besides Stellantis, Foxconn, which also makes Apple iPhones, has dealings with other companies, including Zhejiang Geely Holding Group to provide contract manufacturing to automakers like Faraday Future. Foxconn has also been contracted to assemble vehicles for Byton in 2022 as well as for Fisker in 2023.

The post Stellantis and Foxconn to announce partnership soon appeared first on Paul Tan's Automotive News.

from Paul Tan's Automotive News
Read The Rest:paultan...

No comments