www.marketwatch.com/ story/ fiat-chrysler-foxconn-form-electric-car-venture-2020-01-16 ay-prove-elon-musk-wrong-about-carmaking
More in the link. Amusingly Elon made a remark about Foxconn and this topic some time back, which was mentioned in another article on this same topic: https://www.bloomberg.com/opinion/a...
Fiat Chrysler Automobiles NV plans to develop electric vehicles with contract-electronics giant Foxconn Technology Group, according to a regulatory filing, as the Italian-American auto maker looks to make up ground in the market for battery-powered cars. Foxconn said in a filing in Taiwan on Thursday that it is establishing a joint venture with Fiat Chrysler to develop and produce electric vehicles as well as operate internet-connected vehicles. Foxconn's ownership in the joint venture would be 40% or less, the Taiwan-based company said. A Fiat Chrysler spokeswoman at the company's Detroit-area headquarters declined to comment. For Foxconn, the move comes as the company seeks to expand beyond electronics and boost profitability. Formally known as Hon Hai Precision Industry Co., Foxconn is the main assembler of Apple Inc.'s iPhones, sales of which have been slowing as customers hold on to smartphones longer and competition heats up from Chinese producers offering lower-price handsets. The tie-up with Foxconn would be one of Fiat Chrysler's most significant efforts at selling electric vehicles in China, where global car companies are pouring investment into battery powered cars to meet government regulations. The company has invested less in electric-vehicle development than rivals and is confronted with increasingly strict emissions regulations in China and Europe. A planned merger with French auto maker PSA Group is aimed in part at accelerating its development of advanced technologies, including electrified vehicles.
Will be interesting to watch.
Five years ago, in a routine display of trash talking, Tesla Inc.'s Elon Musk made a now infamous quip about how hard it is to manufacture automobiles. "Cars are very complex compared to phones or smartwatches,'' he told German newspaper Handelsblatt. "You can't just go to a supplier like Foxconn and say: Build me a car."