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Tags: foxconn | stellantis | partnership

Foxconn Finalizes Auto Partnership With Stellantis

Foxconn manufacturing plant.

Foxconn, also known as Hon Hai Precision Industry, contract manufactures for Apple, Microsoft, Amazon.com and Huawei. (Dreamstime)

Monday, 17 May 2021 06:46 AM

Hon Hai Precision Industry Co., the main assembler of Apple Inc.’s iPhones, and Jeep maker Stellantis NV said they’re prepared to announce a new strategic partnership, solidifying another major cooperation between technology and automotive giants.

Young Liu, chairman of Foxconn Technology Group’s flagship unit, and Stellantis Chief Executive Officer Carlos Tavares will hold a conference call about their tie-up on Tuesday. The companies didn’t provide details about the partnership in an advisory statement.

Hon Hai made its automotive ambitions known more than a year ago, when it announced plans to establish an electric vehicle joint venture with Fiat Chrysler. Efforts to finalize the partnership were put off by the automaker’s merger with PSA Group to form Stellantis, which was completed in January.

When Foxconn and Fiat Chrysler unveiled their cooperation a year ago, Liu said Hon Hai would oversee design, components, and supply chain management for the venture. The new partnership may be focused initially on collaboration on a smart cockpit or in-car digital services, people familiar with the matter said.

In October, Hon Hai unveiled its first electric vehicle chassis as well as a software platform aimed at helping EV makers get models to market faster. The company also outlined plans to release a solid-state battery by 2024. Since then, it’s signed deals with Chinese EV startup Byton Ltd. and U.S.-based Fisker Inc.

Hon Hai has a massive presence in China that could help Stellantis improve its weak position in the world’s largest auto market. The automaker generated less than 3% of its revenue from the Asia-Pacific region last year.

© Copyright 2021 Bloomberg News. All rights reserved.


StreetTalk
Hon Hai Precision Industry Co., the main assembler of Apple Inc.'s iPhones, and Jeep maker Stellantis NV said they're prepared to announce a new strategic partnership, solidifying another major cooperation between technology and automotive giants. Young Liu, chairman of...
foxconn, stellantis, partnership
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2021-46-17
Monday, 17 May 2021 06:46 AM
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