Stellantis N.V., a leading global automaker and mobility provider, and Hon Hai Technology Group (Foxconn) have entered into a non-binding MoU to create a partnership to design and sell new flexible semiconductors for the automotive industry.
The partnership was announced as part of the Stellantis Software Day 2021 event held on Tuesday, Stellantis said in a statement.
The announcement marks the second collaboration between Stellantis and Foxconn. In May, the companies announced a Mobile Drive joint venture aimed at developing smart cockpit solutions enabled by advanced consumer electronics, and HMI interfaces.
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“Our software-defined transformation will be powered by great partners across industries and expertise,” said Stellantis CEO Carlos Tavares.
“With Foxconn, we aim to create four new families of chips that will cover over 80% of our semiconductor needs, helping to significantly modernise our components, reduce complexity, and simplify the supply chain. This will also boost our ability to innovate faster and build products and services at a rapid pace,” he said.
Foxconn has a depth of experience in manufacturing semiconductors and software — two key components in the production of electric vehicles, said Young Liu, chairman & CEO.
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Foxconn looks forward to sharing this expertise with Stellantis to tackle the long-term supply chain shortages, as it continues its expansion into the electric vehicle market, he added.