Rome: Fiat Chrysler Automobiles (FCA) said on Friday it is in talks with Taiwanese electronics manufacturer Foxconn over a joint venture to produce electric cars in China.
What is at stake is “an equal joint venture to develop and manufacture in China new generation battery electric vehicles and engage in the IoV (Internet of Vehicles) business,” FCA said.
“The parties are in the process of signing a preliminary agreement which will govern further discussions aimed at reaching final binding agreements in the next few months.”
“There is however no assurance that final binding agreements will be reached or will be reached in that time frame,” the Italo-American carmaker added. FCA is seen as lagging behind competitors on electric car and autonomous driving technologies. It is also in the process of merging with France’s PSA, parent company of Peugeot, Citroen and Opel. — dpa