Posted on 01/17/2020 8:29:45 AM PST by Olog-hai
Fiat Chrysler is in talks with the Chinese company Foxconn to develop and manufacture battery-powered vehicles, the U.S.-Italian automaker said Friday.
Fiat Chrysler is in the process of merging with France’s PSA Peugeot, which is 12% owned by Chinese company Dongfeng Motor Co.
Both Fiat Chrysler and Peugeot have lagged in developing electric powertrains and also have been struggling to increase sales in China, the world’s biggest auto market.
It was unclear what impact Fiat Chrysler’s proposed joint venture with Foxconn, formally known as Hon Hai Precision Ind. Co., Ltd., would have on the wider merger, which is expected to be completed in the next year or so.
If a deal with Foxconn is reached, a joint venture would focus first on China, the biggest market for electric cars with 1.2 million vehicles sold last year — half the global total. …
(Excerpt) Read more at apnews.com ...
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