Apple Magazine - USA - Issue 430 (2020-01-24)

Fiat Chrysler is in talks with the Taiwanese

company Foxconn to develop and manufacture

battery-powered vehicles, the U.S.-Italian

automaker said.

Fiat Chrysler is in the process of merging with

France’s PSA Peugeot, which is 12% owned by

Chinese company Dongfeng Motor Co. Both Fiat

Chrysler and Peugeot have lagged in developing

electric powertrains and also have been

struggling to increase sales in China, the world’s

biggest auto market.

It was unclear what impact Fiat Chrysler’s

proposed joint venture with Foxconn, formally

known as Hon Hai Precision Ind. Co., Ltd., would

have on the wider merger, which is expected to

be completed in the next year or so.

If a deal with Foxconn is reached, a joint venture

would focus first on China, the biggest market

for electric cars with 1.2 million vehicles sold last

year - half the global total.

FIAT CHRYSLER

IN TALKS WITH

FOXCONN

TO DEVELOP

ELECTRIC CARS