Stellantis, Foxconn to form JV for connectivity solutions By Reuters

May 18, 2021 admin Stock News 0

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© Reuters. FILE PHOTO: A flag with the logo of Stellantis is seen at the company’s corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. REUTERS/Gonzalo Fuentes/File Photo

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MILAN (Reuters) – Carmaker Stellantis and iPhone assembler Foxconn said on Tuesday they plan to create a joint-venture that will supply in-car and connected-car technologies.

The two companies have signed a non-binding memorandum of understanding to form Mobile Drive, a 50-50 joint venture based in the Netherlands.

Mobile Drive will operate as an automotive supplier, and take part in tenders to provide software solutions and related hardware for Stellantis and other interested automakers, the companies said in a joint statement.

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