Stellantis, Foxconn To Elaborate On Newly Formed Partnership

Jeep maker Stellantis NV STLA, Apple Inc’s AAPL iPhone assembler Foxconn Technology Co Ltd FXCOF, along with subsidiary FIH Mobile Ltd FXCNF FXCNY, will 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.