Making chips
Stellantis and Foxconn have received the green light from the European Commission for their joint venture. The two parties want to produce microchips together.
The European Commission has approved a joint venture between car group Stellantis and Taiwanese Foxconn. The new company will have its head office in the Netherlands and will develop semiconductors for the automotive market. According to the EU’s executive board, the cooperation does not pose a threat to competition in the market, as the joint venture participants are not currently active in the same markets, or their activities overlap elsewhere.
Stellantis, parent company of Peugeot, Citroën, Opel and Fiat, among others, has its head office in Hoofddorp. It wants to work with Foxconn to enable a more stable supply of microchips. This is of course a response to the global chip shortage, which has been bothering car manufacturers since 2020. The joint venture’s chips are to be installed in Stellantis’ cars from 2024 and also offered to other automakers. The partnership between Stellantis and Foxconn was announced just over two years ago.
– Thanks for information from Autoweek.nl