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Stellantis and Foxconn to announce strategic partnership on Tuesday

Stellantis and Foxconn to announce strategic partnership on Tuesday

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MILAN (Reuters) -Automaker Stellantis and iPhone assembler Foxconn said on Monday they would announce a strategic partnership on Tuesday.

Last year then Fiat Chrysler, now part of Stellantis, said it planned to set up a joint venture with Hon Hai Precision Industry, Foxconn’s parent company, to build electric cars and develop internet-connected vehicles in China.

Fiat Chrysler merged with France’s Peugeot maker PSA at the beginning of the year to create Stellantis, the world’s fourth-largest carmaker, to relaunch in China as one of its main goals.

The two companies will hold a conference call on Tuesday to present the partnership, with Stellantis Chief Executive Carlos Tavares and Foxconn Chairman Young Liu among others, the groups said in a joint statement.

In January Taiwan’s Foxconn and China’s Zhejiang Geely Holding Group said they were joining hands to provide contract manufacturing for automakers.

They have said they were in talks to provide contract manufacturing services to electric vehicle maker Faraday Future, while Foxconn will also help building electric sport-utility vehicles in 2022 for Chinese startup Byton.

(Reporting by Giulio Piovaccari, editing by Louise Heavens)

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