Foxconn invests $10 million in Autotalks
Following a strategic collaboration agreement between Foxconn Interconnect Technology (FIT), a subsidiary of Taiwanese EMS provider Foxconn, and vehicle-to-everything solutions provider, Autotalks, FIT will invest USD 10 million in the Israeli company.
FIT and Autotalks will join forces to accelerate V2X penetration across automotive and micro-mobility segments, leveraging Autotalks' automotive V2X technology, and its recently launched ZooZ micro-mobility platform. The joint micro-mobility activity will start this year, and the automotive activity will start early next year, a press release reads. FIT and Foxconn have recently taken steps within the EV space which includes research and development and joint ventures with leading automakers. Foxconn’s electric vehicles strategy aslo drew attention with their recent launch of three EV prototypes. "Over the last couple of years, we have been strategically expanding into the automotive segment, with special focus on electric vehicles, connectivity, mobility and safety and technologies," says Thomas Fann, Special Assistant to Chairman at FIT in the press release. "We see Autotalks as the provider of the world's most trusted V2X solution, with the highest performance, security and reliability. This is why we decided to enter into strategic collaboration agreement with Autotalks and invest $10 million in this company." "We are glad to enter into strategic collaboration agreement with Foxconn and receive the new investment from the world's largest electronics manufacturer," adds Hagai Zyss, CEO of Autotalks. "The synergy between the companies is very natural, considering the strategic place V2X has in the future of safety and mobility, and Autotalks' V2X market leadership. V2X is a critical safety sensor, the only one that can see behind corners, protect micro-mobility users, and can also increase the range of Electrical Vehicles."