Stellantis, Hon Hai Precision Industry to set up a joint venture

Economy

Automaker Stellantis N.V. and Taiwan's Hon Hai Precision Industry Co. will set up a joint venture to develop internet-connected vehicles, the two companies announced Tuesday. The manufacturer of cars under Chrysler, Peugeot and other brands and Taiwan's electronics maker better known as Foxconn said the joint venture will develop and supply software of "connected cars" that offer various services by connecting to the internet. Hon Hai has contracted Apple Inc. for the production of iPhones, expanding its business in line with Apple's growth. The Taiwan company has said it aims to lead the worl...

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