Fiat Chrysler Automobiles is in discussions to enter a joint venture with Taiwan’s Foxconn to develop new generation electric vehicles in China.

 

Both companies are in the process of signing a preliminary agreement that will determine the scope of a future binding agreement in a few months. The agreement will also include a deal to engage in the Internet of Vehicles (IoV) business though there’s no guarantee a final binding agreement will be reached in the timeframe of the preliminary talks.

 

The joint venture will initially focus on the Chinese market, which will allow the two companies to rely on each other’s automotive design, engineering, manufacturing and technological wherewithal in the growing EV market.

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