Stellantis, Foxconn To Elaborate On Newly Formed Partnership

  • Jeep maker Stellantis NV STLAApple Inc’s AAPL iPhone assembler Foxconn Technology Co Ltd FXCOF, along with subsidiary FIH Mobile Ltd FXCNF FXCNYwill announce a new strategic partnership on May 18, 2021, via the link.
  • The new partnership may be focused on the collaboration on a smart cockpit or in-car digital services.
  • Last year, Foxconn’s electric vehicle joint venture plans with Fiat Chrysler had to be shelved following Fiat’s merger with France’s Peugeot maker PSA to form Stellantis.
  • Earlier this year, Fiat Chrysler had merged with PSA to relaunch in China, Reuters reports.
  • Foxconn revealed its first EV chassis and a software platform in Oct. It also outlined plans to release a solid-state battery by 2024. The company also forged deals with Chinese EV startup Byton Ltd. and U.S.’s Fisker Inc FSR.
  • Foxconn’s strong presence in China could provide a significant boost to Stellantis’s position.
  • Price action: STLA shares traded higher by 0.33% at $18.21 in the premarket session on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksSmall CapTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!