There have been several pieces of news from the Stellantis Group in recent weeks. About a month ago, on July 23, the group signed a syndicated credit facility that is revolving (of 12 billion euros). In early August, the group published its financial results counting for the first half of 2021. Currently, Stellantis is collaborating with FIH Mobile and creating a smart cockpit provider to the automotive sector.
Through its subsidiary FIH Mobile Ltd. Hon Hai Precision Industry Co. has signed a joint venture agreement with Stellantis. The two groups have thus created Mobile Drive. This new company will focus on the creation of intelligent cockpits for cars. This method will revolutionise the design methods currently used in the sector. In addition, the joint venture will facilitate the development of intelligent connected vehicles.
The collaboration follows the signing of a Memorandum of Understanding (MOU) on May 18. Stellantis and FIH will hold equal shares in the capital of Mobile Drive. The collaboration combines smart solutions with Foxconn's capabilities in the ICT industry: Information and Communication Technology. This will ensure the further development of Mobile Drive, in particular through the expertise of Stellantis in the automotive industry.
Mobile Drive's work will focus on the development of telematics and infotainment solutions. This joint venture will work on a cloud-based service platform to make a complete smart cockpit offering. It will work according to a well-defined roadmap of software innovations. This will include navigation, voice assistance, artificial intelligence applications, payment services integration and e-commerce operations.
Hardware innovations will be related to the telematics box and the intelligent cockpit. The joint venture will offer a seamless user experience. It will also create the latest generation of digital automotive services both inside and outside the vehicle. Both of these capabilities will be achieved by integrating the supply chains of its founding entities and sharing complementary intellectual property.
Eventually, the smart cockpit offerings will be available to all Stellantis vehicles as well as to third-party vehicle manufacturers.
Note: The availability of cockpit offerings in the marketplace will expand the impact and reach of Mobile Drive. It should be noted that the goal of this combined company is to become a leader in smart cockpit and connected car solutions worldwide.
Since 1974 (the year of establishment), Hon Hai Precision Industry Co, Ltd, or Foxconn has distinguished itself as the largest supplier of electronic components in the world. It is a company that also offers technological solutions. It continually leverages its expertise in hardware and software to integrate its unique design systems with new technologies.
In addition, FIH is a subsidiary of Foxconn Technology that provides design and development services to its customers. It is also among the leading players in the mobile device industry worldwide. FIH also offers integrated manufacturing services.