Stellantis, made up of, has a new friend in assembler Foxconn. The automaker and electronics manufacturer said on Monday that the two had finalized a strategic agreement to move forward on electric cars, initially for China. Could a Foxconn-related EV from Stellantis come to the US? That remains to be seen.
The companies didn't divulge many details on the newfound partnership, but Stellantis is itching for a restart in China. The country remains the world's largest market for new vehicles, and Stellantis isn't exactly topping the sales charts there. The Foxconn partnership, however, may allow the automaker to tackle China better, especially with the electronics company's presence locally.
The two won't jump straight into building an EV, though. Stellantis and Foxconn may first work on in-car technology to get the ball rolling, but it's clear that grander plans for EVs, and even a solid-state battery, are in the pipeline. Aside from Stellantis, Foxconn plans to work withand US startup to help launch other electric vehicles. The Taiwanese conglomerate showed off its own EV platform and related technology last year, showing the world it's ready to do more than build smartphones.