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"Foxconn" also wants to build electric cars! Fiat Chrysler Automobiles (FCA Group) confirmed today that it is discussing with Hon Hai Precision Industry Co., Ltd.(Foxconn) the possibility of establishing a peer-to-peer joint venture to develop and manufacture a new generation of pure electric vehicles in China and enter the connected car business.

According to the official release, the two sides plan to focus on the Chinese market initially, bringing together the capabilities of both sides in automotive design, engineering and manufacturing and mobile software technology to focus on the growing pure electric vehicle market.

The two sides are currently in the process of signing a preliminary agreement that will guide discussions towards a final binding agreement in the coming months.

It is called Hon Hai Technology Group in China Taiwan and Foxconn Technology Group in the mainland of China. Foxconn Technology Group is a high-tech enterprise specializing in the R & D and manufacturing of 3C products such as computers, communications and consumer electronics, and is widely involved in digital content, automotive components, access, cloud computing services and the development and application of new energy and new materials.

Foxconn has been involved in the automotive business earlier, investing in Didi Chuxing, a domestic taxi service giant, and is also an investor in Baiteng and Xiaopeng, a domestic electric car start-up. Foxconn and FCA Group formed a joint venture to produce pure electric vehicles, which is also a step for Foxconn to participate directly in the automobile manufacturing industry.

The FCA Group has committed € 9 billion in its five-year plan to launch 30 new electric products worldwide. The first products will include plug-in hybrid versions of the Jeep Guide, Jeep Freeman and Jeep Wrangler, as well as two purely electric vehicles-the Fiat sedan and the Fiat commercial van.

The sales volume of new energy vehicles encounters bottlenecks, and the future of new forces in vehicle building is bleak. FCA Group and Foxconn have established an electric vehicle joint venture company in China, which is not optimistic from the perspective of the industry!

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