FCA, Foxconn plan to push into the lucrative Chinese e-vehicle market


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FCA, Foxconn plan to push into the lucrative Chinese e-vehicle market

On Friday, the 17th of January 2020, the London-based Italian-American carmaker Fiat Chrysler Automobiles NV, conducting business as Fiat Chrysler or FCA, had made a public announcement saying that the Italian-American automaker had been brewing an option to set up a JV with the US-based chipmaker and an assembler of the Cupertino-based iPhone maker, Apple Inc., Foxconn, in a bid to build electric vehicles and connected cars in China, the world’s largest automotive market, as the London-based carmaker seemed to be stepping up efforts to gain further grounds in electric vehicles before initiating its $50 billion merger with the French carmaker Group PSA that would likely to be completed in a year.

Aside from that, at its Friday’s (January 17th) briefing, the London-based carmaker, which would be launching its first full-electric vehicle, the 500 small car, as early as this year, had also confirmed that it had been in an advanced stage talks with the Hon Hai to create a 50-50 JV aimed at developing next-gen battery-powered electric vehicles alongside connected vehicles or “IoV” (Internet of vehicles), as the Italian-American automaker said in its Friday’s (January 17th) announcement, “…(The JV) would enable the parties to bring together the capabilities of two established global leaders across the spectrum of automobile design, engineering and manufacturing and mobile software technology to focus on the growing battery electric vehicle market. ”