Stellantis and Foxconn Sign MOU to Form Mobile Drive | #site_titleStellantis and Foxconn Sign MOU to Form Mobile Drive

Stellantis and Foxconn Sign MOU to Form Mobile Drive

Stellantis NV (NYSE: STLA) and Hon Hai Precision Industry Co., Ltd., (Foxconn) with its subsidiary FIH Mobile Ltd. reported signing of a memorandum of understanding to form Mobile Drive, a joint venture that focuses on hastening the development in innovative in-vehicle user experiences that is fueled by advanced consumer electronics to push HMI interfaces and services to exceed customer expectations. “Today, there’s something that matters just as much as beautiful design or innovative technology, it’s how the features inside our vehicles improve the lives of our customers,” said Carlos Tavares, Chief Executive Officer at Stellantis. “Software is a strategic move for our industry and Stellantis intends to lead with Mobile Drive, a company that will enable the swift development of connectivity features and services that mark the next great evolution of our industry, just as electrification technology has.”

“The vehicles of the future will be increasingly software driven and software defined. Customers today and, in the future, demand and expect ever increasing software driven and creative solutions to connect the drivers and passengers with the vehicle inside and out. Mobile Drive will meet and exceed these expectations with teams of designers and software and hardware engineers,” said Chairman Young Liu at Foxconn. “This is a natural extension of Foxconn’s global leadership in the development and application of smart technologies to improve the quality of life of consumers around the world.”

 Development by Mobile Drive will be co-owned by Foxconn and Stellantis.  The joint venture will operate as an automotive supplier and competitively bid to supply software solutions and corresponding hardware for Stellantis and other automakers.  “Leveraging Foxconn’s extensive knowledge of user experience and software development in mobile ecosystems, Mobile Drive will offer the disruptive smart cockpit solution that will seamlessly integrate the automobile into the driver’s mobile-centric lifestyle,” Calvin Chih, Chief Executive Officer at FIH. 

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!