Ultimate magazine theme for WordPress.

FIH Mobile and Stellantis establish joint venture for

FIH Mobil and Stellantis Foundation of a joint venture to provide disruptive, intelligent cockpit solutions for the automotive industry

  • Mobile Drive is equally owned by Stellantis and Foxconn Technology Group
  • Stellantis accelerates the implementation of the technology roadmap through innovative partnership
  • Joint technology know-how, market experience and intellectual property of both companies will help to create an outstanding border experience
  • Product development and technology gains are accelerated by integrating global supply chains
  • The management team for the new unit will consist of senior executives from each company

AMSTERDAM, TAIPEI, Aug 24, 2021 – Hon Hai Precision Industry Co., Ltd. (“Foxconn”) (TPE: 2317) together with its subsidiary FIH Mobile Ltd. (“FIH”) (HKG: 2038) and Stellantis NV (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) announced today that they have entered into a joint venture agreement. Mobile Drive, the joint venture company, will focus on providing an intelligent cockpit solution for vehicles disrupting current design conventions and promoting the development of intelligent connected vehicles, this update will come after the signing of a Memorandum of Understanding (MOU) on May 18, 2021.

Mobile Drive is held equally by Stellantis and FIH. The partnership has combined Foxconn’s capabilities in the ICT industry and intelligent solutions with Stellantis’ expertise in the automotive sector and ensured the growth of Mobile Drive.

Mobile Drive will focus on developing infotainment and telematics solutions as well as a cloud service platform that aims to provide a comprehensive smart cockpit solution. The software innovation roadmap will include applications based on artificial intelligence, navigation, voice assistance, e-commerce, and payment integration, among others. The hardware innovations relate to the Smart Cockpit and the telematics box.

By sharing intellectual property among its founding companies and vertically integrating their respective supply chains, Mobile Drive will be able to create industry-leading digital automotive services to achieve a seamless user experience inside and outside the vehicle. In the future, the Smart Cockpit solution will not only be available for all Stellantis vehicles, but also for third-party vehicle manufacturers.

# # #

About Foxconn

Hon Hai Precision Industry Co., Ltd. (“Foxconn”) (TPE: 2317) was founded in Taiwan in 1974 and is the world’s largest electronics manufacturer. Foxconn is also the leading provider of technological solutions and continuously uses its software and hardware expertise to integrate its unique manufacturing systems with new technologies. To learn more, visit www.honhai.com.

About FIH

As a subsidiary of Hon Hai Precision Industry and a leader in the global mobile device industry, FIH provides vertically integrated end-to-end design, development and manufacturing services that encompass cell phones, mobile and wireless communication devices and consumer electronics products. On the way into the Internet age, FIH used its core competencies in hardware and software to enter the areas of 5G, AI, IoT and IoV (Internet of Vehicle) and to build a complete Internet and mobile ecosystem.

Above Stellantis

Stellantis is one of the world’s leading automobile manufacturers and mobility providers, guided by a clear vision: to offer freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and broad geographic presence, its greatest strengths lie in its sustainable performance, years of experience and the diverse talents of its global workforce. Stellantis will leverage its broad and iconic brand portfolio founded by visionaries who have shaped the brands with passion and a competitive spirit that appeals to employees and customers alike. Stellantis strives to become the greatest, not the greatest, while creating value for all stakeholders as well as the communities in which it operates.

For more information contact:

Molly SHIH: +886 2 2268 5511 # 64653 – [email protected]

Jimmy HUANG: +866 2 2268 3466 – [email protected]

Pierre OLIVIER SALMON: +33 6 76 86 45 48 – [email protected]

Valerie GILLOT: +33 6 83 92 92 96 – [email protected]

FORWARDING STATEMENTS

This release contains forward-looking statements. In particular, statements about future financial performance and the company’s expectations of the achievement of certain target metrics, including sales, industry free cash flow, vehicle deliveries, capital investments, research and development costs, and other expenses at any future point in time or for any future period, are forward-looking statements . These statements can include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “stay”, “on the right track” “Contain”, “design”, “goal”, “goal”, “goal”, “forecast”, “forecast”, “outlook”, “prospects”, “plan” or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current level of knowledge, future expectations and forecasts of future events and are naturally subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not exist in the future, and so they should not be placed in undue reliance on them.

Actual results could differ materially from those expressed in forward-looking statements due to a variety of factors including: the impact of the COVID-19 pandemic, the Group’s ability to successfully launch new products and maintain vehicle delivery levels; Changes in global financial markets, the general economic environment and changes in demand for automotive products that are cyclical; Changes in local economic and political conditions, changes in trade policies and the introduction of global and regional tariffs or targeted tariffs on the automotive industry, the adoption of tax reforms or other changes in tax laws and regulations; the Group’s ability to grow certain of its brands worldwide; its ability to offer innovative, attractive products; its ability to design, manufacture and sell vehicles with advanced features, including improved electrification, connectivity and autonomous driving characteristics; various types of claims, lawsuits, government investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and legal proceedings; material operating expenses related to environmental, health and safety compliance; the intense competition in the automotive industry, which consolidation can increase; Risk of default in financing the Group’s defined benefit pension plans; the ability to provide or broker access to adequate financing for dealers and retail customers and related risks associated with establishing and operating financial services businesses; the ability to access financial resources to execute the Group’s business plans and improve its business, financial condition and results of operations; a material malfunction, malfunction or security breach compromises the information technology systems or the electronic control systems of the Group’s vehicles; the Group’s ability to realize anticipated benefits from joint venture agreements; Disruptions due to political, social and economic instability; Risks associated with our relationships with employees, dealers and suppliers; Cost increases, delivery interruptions or bottlenecks in raw materials, parts, components and systems used in the Group’s vehicles; Developments in labor and labor relations and developments in applicable labor laws; Fluctuations in exchange rates, changes in interest rates, credit risk and other market risks; political and civil unrest; Earthquakes or other disasters; the risk that the activities of Peugeot SA and Fiat Chrysler Automobiles NV will not be successfully integrated; and other risks and uncertainties.

All forward-looking statements contained in this release speak only as of the date of this document, and the Group disclaims any obligation to publicly update or revise any forward-looking statements. Additional information about the Group and its business, including factors that could materially affect the Group’s financial results, is contained in the Group’s reports and filings with the US Securities and Exchange Commission, AFM, CONSOB and AMF.

  • 20210823_Mobile Drive JV_News Release_DE_01

Comments are closed.