Jeep maker Stellantis plans a 50-50 deal with iPhone assembler Foxconn to develop an automotive software, according to the Wall Street Journal. The deal creates a joint venture, Mobile Drive, that will develop automation in dashboard systems and other connected services.
Based in the Netherlands, the JV will enable sale of software to other auto manufacturers.
The JV will utilize Stellanti’s expert skill in vehicle design and Foxconn’s knowledge in software.
Auto manufacturers seek to rival Google, Apple and other Silicon Valley big wigs for dominance of the dashboard display and other connected car features.
Auto manufacturers see future growth from connected car software and apps as opposed to the building and sale of vehicles.
Stellantis CEO Carlos Tavares expects the deal to enhance swift development of connectivity features and services, marking the next evolution of the auto industry.
Stellantis and Foxconn stocks are currently gaining. STLA: NYSE is up 0.11%, 2317: TPE is up 8.96%
