FCA Confirms Discussions with Foxconn
January 17 2020 - 01:46AM
FCA Confirms Discussions with Foxconn
Fiat Chrysler Automobiles N.V. (MTA: FCA / NYSE:
FCAU, “FCA”) confirmed today that it is in discussions with Hon Hai
Precision Ind. Co., Ltd. (Foxconn) regarding the potential creation
of an equal joint venture to develop and manufacture in China new
generation battery electric vehicles and engage in the IoV
(Internet of Vehicles) business. The proposed cooperation,
initially focused on the Chinese market, would enable the parties
to bring together the capabilities of two established global
leaders across the spectrum of automobile design, engineering and
manufacturing and mobile software technology to focus on the
growing battery electric vehicle market. The parties are in the
process of signing a preliminary agreement which will govern
further discussions aimed at reaching final binding agreements in
the next few months. There is however no assurance that final
binding agreements will be reached or will be reached in that
timeframe.
London, 17 January 2020
For further information:tel.: +39 (011) 00 63088Email:
mediarelations@fcagroup.comwww.fcagroup.com
This press release contains forward-looking
statements. These statements are based on the FCA Group’s current
expectations and projections about future events and, by their
nature, are subject to inherent risks and uncertainties. They
relate to events and depend on circumstances that may or may not
occur or exist in the future and, as such, undue reliance should
not be placed on them. Actual results may differ materially from
those expressed in such statements as a result of a variety of
factors, including: volatility and deterioration of capital and
financial markets, including possibility of new Eurozone sovereign
debt crisis, changes in commodity prices, changes in general
economic conditions, economic growth and other changes in business
conditions, weather, floods, earthquakes or other natural
disasters, changes in government regulation, production
difficulties, including capacity and supply constraints, and many
other risks and uncertainties, most of which are outside of the FCA
Group’s control.
- FCA Confirms Discussions with Foxconn
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