Hon Hai Precision Industry Co., Ltd., (“Foxconn”) (TPE: 2317) together with its subsidiary FIH Mobile Ltd., (“FIH”) (HKG:2038) and Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) late yesterday announced that they have entered into a joint venture agreement dubbed Mobile Drive.
It will focus on delivering – marketing babble alert> “smart cockpit solutions for vehicles that will disrupt current design conventions and foster the development of intelligent connected vehicles.”
This latest development comes after a Memorandum of Understanding was initially signed on May 18, 2021. “Shared technology expertise, market experience and intellectual property from both entities is supposed to create an “outstanding on-board experience.” (Stellantis, Foxconn JV for Digital Cockpits, Connected Services; Stellantis New Credit Line €12B Tops PSA and FCA Combined; Stellantis Posts Record H1 Results. Full-Year Guidance Lifted)
Mobile Drive will be equally owned by Stellantis and FIH. The partnership has combined Foxconn’s capabilities in ICT industry and smart solutions, with Stellantis’ expertise in the automotive sector, ensuring the growth of Mobile Drive.
Mobile Drive will work on developing infotainment and telematics, as well as a cloud service platform, which will aim to deliver a comprehensive smart cockpit. Its roadmap of software innovations will include artificial intelligence-based applications, navigation, voice assistance, e-commerce store operations, and payment services integration, amongst others. The hardware innovations will be related to the smart cockpit and telematics box.
In the future, the smart cockpit solution will not only be available to all Stellantis vehicles, but also to third-party vehicle manufacturers, expanding the reach and impact of the Mobile Drive venture as it aims to be a global leader in smart cockpit and connected vehicle solutions. Only time will tell.