25 Aug 2021
FIH MOBILE AND STELLANTIS ESTABLISH JOINT VENTURE TO DELIVER DISRUPTIVE, SMART COCKPIT SOLUTIONS FOR THE AUTOMOTIVE INDUSTRY
Hon Hai Precision Industry Co., Ltd., (“Foxconn”) (TPE: 2317) together with its subsidiary FIH Mobile Ltd., (“FIH”) (HKG:2038) and Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) ("Stellantis”) today announced that they have entered into a joint venture agreement.
- Mobile Drive will be equally owned by Stellantis and Foxconn Technology Group
- Stellantis accelerates execution of technology roadmap through innovative partnership
- Shared technology expertise, market experience and intellectual property from both entities will lend to creating an outstanding on-board experience
- Product development and technology gains will be expedited through the integration of global supply chains
- Management team of new entity will comprise 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 N.V. (NYSE / MTA / Euronext Paris: STLA) ("Stellantis”) today announced that they have entered into a joint venture agreement. Mobile Drive, the joint venture entity, will focus on delivering a smart cockpit solution for vehicles that will disrupt current design conventions and foster the development of intelligent connected vehicles. This update comes after a Memorandum of Understanding (MOU) was initially signed on May 18, 2021.
Mobile Drive will be equally owned by Stellantis and FIH. The partnership has combined Foxconn’s capabilities in ICT industry and smart solutions, with Stellantis’ expertise in the automotive sector, ensuring the growth of Mobile Drive.
Mobile Drive will focus on developing infotainment and telematics solutions as well as a cloud service platform, which will aim to deliver a comprehensive smart cockpit solution. Its roadmap of software innovations will include artificial intelligence-based applications, navigation, voice assistance, e-commerce store operations, and payment services integration, amongst others. The hardware innovations will be related to the smart cockpit and telematics box.
Through the exchange of intellectual property by its founding entities and the vertical integration of respective supply chains, Mobile Drive will be able to create industry-leading automotive digital services to achieve a seamless user experience in and outside the vehicle. In the future, the smart cockpit solution will not only be available to all Stellantis vehicles, but also to third-party vehicle manufacturers, expanding the reach and impact of the Mobile Drive venture as it aims to be a global leader in smart cockpit and connected vehicle solutions.
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Established in Taiwan in 1974, Hon Hai Precision Industry Co., Ltd., (“Foxconn”) (TPE: 2317) is the world’s largest electronics manufacturer. Foxconn is also the leading technological solution provider and it continuously leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies. To learn more, visit www.honhai.com.
A subsidiary of Hon Hai Precision Industry and a leader in the worldwide mobile device industry, FIH offers vertically integrated, end-to-end design, development, and manufacturing services spanning handsets, mobile and wireless communication devices and consumer electronics products. Moving into the internet era, FIH leveraged its core strengths in hardware and software to enter the 5G, AI, IoT and IoV (Internet of Vehicle) fields, building a full internet and mobile ecosystem.
Stellantis is one of the world’s leading automakers and a mobility provider, 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, depth of experience and the wide-ranging talents of employees working around the globe. Stellantis will leverage its broad and iconic brand portfolio, which was founded by visionaries who infused the marques with passion and a competitive spirit that speaks to employees and customers alike. Stellantis aspires to become the greatest, not the biggest while creating added value for all stakeholders as well as the communities in which it operates.
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