Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© ginasanders dreamstime.com Business | January 17, 2020

Fiat Chrysler and Foxconn plans EV joint venture

A new competitor in the industry for electric vehicles are in the making.

Fiat Chrysler and Hon Hai Precision, otherwise known as EMS giant Foxconn, are reportedly a planning a joint venture to manufacture electric vehicles for the Chinese market, Which was reported in international media yesterday. The companies were also said to be eyeing the business of wirelessly connected vehicles. Today Fiat Chrysler confirmed the discussions with Foxconn. More precisely, the companies discussions are in regards to the potential creation of an equal joint venture to develop and manufacture – in China – new generation battery electric vehicles and engage in the IoV (Internet of Vehicles) business. If the partnership would come to fruition it would initially focused on the Chinese market, Fiat Chrysler says in its update. The parties are in the process of signing a preliminary agreement which will govern further discussions aimed at reaching final binding agreements in the next few months.
Ad
Ad
Load more news
October 26 2020 3:29 pm V18.11.11-1