BMWYY - Stellantis Foxconn inks MoU to make flexible Semiconductors for the automotive industry

Stellantis (NYSE:STLA) and Foxconn (OTCPK:HNHPF) sign a cooperation pact to design and sell a family of purpose-built semiconductors for the automotive industry. “With Foxconn, we aim to create four new families of chips that will cover over 80% of our semiconductor needs, helping to significantly modernize 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.” The partnership will help drive Stellantis’ (STLA) global semiconductor supply chain stability. Today’s announcement marks the second collaboration between Stellantis (STLA) and Foxconn. In May, the companies announced the Mobile Drive joint venture to develop smart cockpit solutions. In addition, Stellantis announces a strategy to embed AI-enabled software in 34 million vehicles across its 14 brands targeting 20 billion euros (about $22.6 billion) in annual revenues by 2030. It includes key partnerships with BMW on autonomous driving, iPhone

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Stellantis, Foxconn inks MoU to make flexible Semiconductors for the automotive industry