A joint venture has been launched between US-European automaker Stellantis and Taiwanese IT giant Foxconn to manufacture and market premium automotive processors.
According to the statement made by the companies, which does not contain any financial information, sales are expected to start in 2026. SiliconAuto's headquarters will be in the Netherlands.
According to the statement, “SiliconAuto will offer customers a source of semiconductors focused on the auto industry for the growing number of computer-controlled features and modules, especially those required for electric vehicles.”
Semiconductors that power everything from hypersonic missiles to toys to smartphones have become scarce as companies shut down and demand for electronics increases during the coronavirus pandemic.
After production was hit hard by tight COVID regulations, a wave of industrial discontent and ongoing diplomatic difficulties with the United States, tech companies, notably Foxconn, have increasingly turned to moving production outside of China.
According to Stellantis, the world's third-largest automaker, easing global shortages in semiconductor supply by revenue helped boost sales in the first quarter.
Between January and March, Stellantis' sales of electric vehicles increased 22 percent year on year, and the company plans to have 47 all-electric models on the market by the end of the year.
Foxconn, officially known as Hon Hai Precision Industry, is the world's largest contract electronics manufacturer and one of the major suppliers of iPhone components.
In the new joint venture with Stellantis, Foxconn Chief Product Officer Jerry Hsiao predicted “the future of outstanding electric vehicle mobility.”
📩 20/06/2023 17:36