Stellantis and Foxconn to announce ‘strategic partnership’

Stellantis is set to announce an EV collaboration with Foxconn

Stellantis and iPhone assembler Foxconn have said in a joint statement that they will announce a strategic partnership on Tuesday (18 May).

The two are expected to announce an agreement to collaborate on a future smart tech electric car that Hon Hai Precision Industry, Foxconn’s parent company, will build for the Chinese market.

A conference call and live audio webcast will be held at 5:45 a.m. EDT / 11:45 a.m. CEST / 5:45 p.m. CST, to present this partnership. The event will include remarks from Carlos Tavares, Chief Executive Officer at Stellantis, Young Liu, Chairman at Foxconn, Yves Bonnefont, Chief Software Officer at Stellantis, and Calvin Chih, Chief Executive Officer at FIH.

Foxconn has announced collaborations with a number of OEMs. Last year, Stellantis merger participant Fiat Chrysler (FCA) said it was in talks with Foxconn for the joint production of electric vehicles (EVs) in China.

The move is seen by analysts as highly significant strategically for Stellantis, as it looks to raise its volumes and share in the Chinese market. 

Foxconn also said last year it would launch an EV open platform and components business. 

See also: China holds key to the future success of Stellantis

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