(Boursier.com) — Stellantis stands out at the start of the week, with a gain of 2.1% to 12.7 euros. Foxconn Technology and Stellantis will create a second joint venture. In a regulatory statement, the Taiwanese electronics giant said it is investing $75 million in this 50-50 owned entity, whose name has not been leaked. Completion of the transaction is subject to customary closing conditions, including the receipt of all necessary regulatory and antitrust approvals.
This isn’t the first time the two groups have collaborated. Last year, the two companies announced the formation of a joint venture Mobile Drive aimed at developing smart cockpit solutions through advanced consumer electronics systems, HMI interfaces and services that will exceed customer expectations. .
The two players also signed a non-binding memorandum of understanding last December to create a partnership that aims to realize a family of purpose-built semiconductors to support Stellantis and third-party customers.
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