Stellantis and Foxconn forming partnership to provide related electrical vehicles

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Stellantis and Foxconn, the Taiwanese company best known for contract manufacturing the Apple iPhone, appear ready to announce a partnership to manufacture electric cars.

Reuters first reported the news on Monday, and Stellantis later announced a joint press conference with Foxconn to be held on Tuesday.

The partnership follows a deal announced last year between Foxconn and Fiat Chrysler Automobiles (FCA) before the automaker completed its merger with PSA Group to create Stellantis. This deal, which included a joint venture to manufacture electric cars for the Chinese market, was suspended due to the merger, according to Reuters.

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Foxconn appears to be eager to expand from making smartphones to making electric cars. The company unveiled its own modular EV platform in October 2020. With the name MIH, the company has hardware and software developed in-house and, according to Foxconn, is designed for both car and SUV body variants.

Earlier this year, Foxconn also entered into a joint venture with Fisker Inc. to build a $ 30,000 EV with a planned launch date of 2023. The two companies have announced that this EV, codenamed Project Pear, will be built in the United States. However, Fisker’s first model – the Ocean Crossover – will be built at Magna’s facility in Graz, Austria, on a platform designed by that company.

Foxconn has also invested in some Chinese automakers. The company invested $ 350 million in Xpeng in 2018 and in troubled EV startup Byton earlier this year. Byton began preproduction of its M-byte crossover in April 2020, but progress had stalled due to liquidity constraints. The two companies announced in January that the new goal is to start shipping in the first quarter of 2022.

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