FIH Mobile and Stellantis create a joint venture to

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FIH Mobile and Stellantis Establish a joint venture to provide intelligent and disruptive cockpit solutions for the automotive industry

  • Mobile Drive to be 50/50 owned by Stellantis and Foxconn Technology Group
  • Stellantis accelerates the execution of its technology roadmap thanks to an innovative partnership
  • The shared technological expertise, market experience and intellectual property of the two entities will create an exceptional on-board experience
  • Product development and technological gains will be accelerated through the integration of global supply chains
  • The management team of the new entity will be made up of senior executives from each company.

AMSTERDAM, TAIPEI, August 24, 2021 – Hon Hai Precision Industry Co., Ltd., (“Foxconn”) (TPE: 2317) with its subsidiary FIH Mobile Ltd., (“FIH”) (HKG: 2038) and Stellantis NV ( NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) today announced that it has entered into a joint venture agreement. Mobile Drive, the joint venture entity, will focus on providing a smart cockpit solution for vehicles that will disrupt current design conventions and foster the development of smart connected vehicles. This update comes after the initial signing of ” a Memorandum of Understanding (MOU) on May 18, 2021.

Mobile Drive will be owned equally by Stellantis and FIH. The partnership combined Foxconn’s capabilities in the ICT industry and smart solutions, with Stellantis’ expertise in the automotive sector, ensuring the growth of Mobile Drive.

Mobile Drive will focus on the development of infotainment and telematics solutions as well as a cloud services platform, which will aim to provide a complete intelligent cockpit solution. Its software innovation roadmap will include applications based on artificial intelligence, navigation, voice assistance, e-commerce store operations and payment service integration, among others. The material innovations will be linked to the smart cockpit and the telematics box.

Through the exchange of intellectual property by its founding entities and the vertical integration of the respective supply chains, Mobile Drive will be able to create cutting-edge automotive digital services to deliver a seamless user experience inside and out. the exterior of the vehicle. Going forward, the smart cockpit solution will not only be available for all Stellantis vehicles, but also for third party vehicle manufacturers, expanding the reach and impact of the Mobile Drive business as it aims to be a global leader. in the smart and connected cockpit. vehicle solutions.

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About Foxconn

Founded in Taiwan in 1974, Hon Hai Precision Industry Co., Ltd., (“Foxconn”) (TPE: 2317) is the world’s largest electronics manufacturer. Foxconn is also the leading provider of technology solutions and continuously leverages its software and hardware expertise to integrate its unique manufacturing systems with emerging technologies. To learn more, visit www.honhai.com.

About FIH

A subsidiary of Hon Hai Precision Industry and a leader in the global mobile device industry, FIH provides vertically integrated and end-to-end design, development and manufacturing services covering handsets, mobiles and Wi-Fi networks.without communication devices and consumer electronics. Moving in the internet age, FIH has leveraged its core strengths in hardware and software to enter 5G, AI, IoT and IoV (Internet of vehicles), construction of a complete Internet and mobile ecosystemtem.

On Stellantis

Stellantis is one of the world’s leading automakers and mobility provider, guided by a clear vision: to deliver freedom of movement with distinctive, affordable and reliable mobility solutions. In addition to the Group’s rich heritage and its vast geography presence, its greatest strengths lie in its long-lasting performance, in-depth experience and the diverse talents of its employees working around the world. Stellantis will leverage its extensive portfolio of iconic brands, which Was found by visionaries who instill in brands a passion and a competitive spirit that speaks to both employees and customers. Stellantis aspires to become the greatest, not the greatest while creating Added value for all stakeholders as well as the communities in which it operateseat.

For more information, contact:

Molly SHIH: +886 2 2268 5511 # 64653 – [email protected]

Jimmy HUANG: +866 2 2268 3466 – [email protected]

Pierre OLIVIER SAUMON: +33 6 76 86 45 48 – [email protected]

Valérie GILLOT: +33 6 83 92 92 96 – [email protected]

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements concerning future financial performance and the Company’s expectations regarding the achievement of certain targeted measures, in particular income, industrial free cash flow,shipments, capital investments, research and development costs and other expenses at any future date or for any future period are forward-looking statements. These statements may include words such as “may”, “will”, “expect”, “could”, “should”, “intention”, “estimate”, “anticipate”, “believe”, “stay”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook” “,” Outlook “,” plan “or similar terms. Forward-looking statements are not guarantees of future performance. On the contrary, tHey are based on the current state of knowledge of the Group, future expectations and projections concerning future events and are, by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occurur or exist in the future and, as such, undue trust should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements due to various factors, including: the impact of the COVID-19 pandemic, the Group’s ability to successfully launch new products and maintain vehiclese shipping volumes; the evolution of global financial markets, the general economic environment and the evolution of the demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and imposition of global and regional tariffs or targeted tariffs on the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the Group’s ability to develop some of its brands internationally; its ability to offer innovationsve, attractive products; its ability to develop, manufacture and sell vehicles with advanced functionality, including electrification, connectivity and enhanced autonomous driving characteristics; various types of claims, lawsuits, government investigations andother contingencies, including product liability and warranty claims and environmental claims, investigations and legal proceedings; significant operating expenses related to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase as a result of consolidation; exposure to funding shortfalls in the Group’s defined benefit pension plans; the ability to provide or organize access to adequate financing for dealers and retailers ccustomers and associated risks associated with the creation and operations of financial services companies; the ability to access financing to execute the Group’s business plans and improve its activities, financial condition and results of operations; one ifa major malfunction, disruption or security breach compromising the IT systems or electronic control systems contained in the Group’s vehicles; the Group’s ability to realize the expected benefits of joint venture agreements; disruactions resulting from political, social and economic instability; risks associated with our relationships with employees, resellers and suppliers; increasing costs, supply interruptions or shortages of raw materials, parts, components and systems used in thGroup vehicles; changes in labor and labor relations and changes in applicable labor legislation; fluctuations in exchange rates, changes in interest rates, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; the risk that the activities of Peugeot SA and Fiat Chrysler Automobiles NV will not be integrated successfully and other risks and uncertainties.

All forward-looking statements contained in this communication speak only as of the date of this document.ent and the Group disclaims any obligation to update or revise public forward-looking statements. Further information on the Group and its businesses, including the factors that could significantly affect the Group’s financial results, is included in theGroup reports and filings with the United States Securities and Exchange Commission, AFM, CONSOB and AMF.

  • 20210823_Mobile Drive JV_Press release_EN_01


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