TAIPEI (Taiwan News) — Foxconn Technology Group’s FIH Mobile Limited and French-Italian car giant Stellantis have invested a total of US$80 million (NT$2.23 billion) in the joint venture Mobile Drive to produce infotainment and in-car connected systems, reports said Tuesday (Aug. 24).
Foxconn has been actively pursuing deals linked to electric vehicles, while Stellantis was created from the merger of France’s PSA Group, known for brands such as Peugeot and Opel, and Italy’s FCA, which includes FIAT, Chrysler, Alfa Romeo, and Maserati, to form the world’s fourth-largest automaker.
FIH and Stellantis will each control 50% of Mobile Drive, according to an agreement expected to be approved by relevant authorities by Oct. 31, with extensions possible until March 31, CNA reported.
The new company will focus on in-car infotainment, telematics, cloud networks, and connected-car technologies in general. FIH projects in Taiwan and the Chinese city of Shenzhen will form part of the Mobile Drive group. The plants were until now managed by Singapore-registered Foxconn affiliate Wonderful Stars.