Stellantis, Foxconn To Elaborate On Newly Formed Partnership

  • Jeep maker Stellantis NV STLAApple Inc’s AAPL iPhone assembler Foxconn Technology Co Ltd FXCOF, along with subsidiary FIH Mobile Ltd FXCNF FXCNYwill announce a new strategic partnership on May 18, 2021, via the link.
  • The new partnership may be focused on the collaboration on a smart cockpit or in-car digital services.
  • Last year, Foxconn’s electric vehicle joint venture plans with Fiat Chrysler had to be shelved following Fiat’s merger with France’s Peugeot maker PSA to form Stellantis.
  • Earlier this year, Fiat Chrysler had merged with PSA to relaunch in China, Reuters reports.
  • Foxconn revealed its first EV chassis and a software platform in Oct. It also outlined plans to release a solid-state battery by 2024. The company also forged deals with Chinese EV startup Byton Ltd. and U.S.’s Fisker Inc FSR.
  • Foxconn’s strong presence in China could provide a significant boost to Stellantis’s position.
  • Price action: STLA shares traded higher by 0.33% at $18.21 in the premarket session on the last check Monday.

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