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Well, they do say that cars are becoming mobile phones on wheels. 

Fiat Chrysler Automobiles has confirmed rumours that it is in discussion with iPhone manufacturer Foxconn, exploring a joint venture to develop and build electric vehicles in China. 

The proposed cooperation, initially focused on the Chinese market, would enable both parties to bring together the capabilities of two established global leaders across the spectrum of automobile design, engineering and manufacturing and mobile software technology to focus on the growing battery electric vehicle market.

FCA has struggled in the EV market, with many of its brands trailing way behind sector rivals. However, in recent times, the company has been stepping up its offensive, merging with French giant PSA Group, the parent company for Peugeot and Citroën and invested in a number of Silicon Valley startups. 

Working with a leading technology manufacturer in the biggest market for EVs in the world, FCA has the chance to propel itself into a leading automaker. This also allows Foxconn to sink its teeth into the EV market, which could quickly become one of the most profitable segments of its business. 

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