Franco-Italian automotive group Stellantis and the world's largest electronics manufacturer Foxconn announced a joint venture for automotive semiconductors to meet the growing demand for futuristic cars in a more efficient way.
According to Foxconn's statement, the group announced the forming of SiliconAuto, which will operate as a 50/50 joint venture between Stallantis and Foxconn for designing and selling semiconductors for the automotive industry.
SiliconAuto will be headquartered in the Netherlands and will begin operation in 2026. The joint venture, a product of an agreement in December 2021 to develop automotive semiconductors, will provide semiconductors for Stellantis, Foxconn, and other customers.
The forming of SiliconAuto follows a similar move by FIH and Stellantis to form MobileDrive for developing smart cockpits enabled by consumer electronics, human-machine interfaces, and services.
According to the statement, Stellantis is expected to benefit from a robust supply of essential components and create purpose-built innovations with an efficient partnership.
Foxconn chief product officer Jerry Hsiao said that Foxconn looks forward to a future of extraordinary EV mobility underpinned by the vertical integration capabilities and resources the joint venture secures for partners.
