|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||7.54 - 7.71|
|52-week range||4.80 - 9.40|
|Beta (5Y monthly)||0.80|
|PE ratio (TTM)||11.82|
|Forward dividend & yield||0.29 (4.01%)|
|Ex-dividend date||23 Jul 2020|
|1y target est||N/A|
(Bloomberg) -- Hon Hai Precision Industry Co. signed an agreement to partner with Jeep maker Stellantis NV, one of the world’s biggest automakers, on a joint venture to jointly develop digital car cockpits.The main assembler of Apple Inc.’s iPhones and the carmaker formed from the merger of Fiat Chrysler and PSA Group said in a statement Tuesday they reached a non-binding deal to form Mobile Drive, a joint venture that could supply both Stellantis and other auto manufacturers.The tie-up between the flagship unit of Foxconn Technology Group and the carmaking giant has the potential to become one of the more significant alliances in the rapidly converging worlds of tech and autos. Hon Hai also has ambitions to supply underpinnings for electric vehicles and has signed deals with Chinese startup Byton Ltd. and U.S.-based Fisker Inc.Whereas Byton are Fisker are just trying to get off the ground, Stellantis sold roughly 6 million vehicles last year. That amount of scale presents an opportunity for Foxconn to diversify a business dependent on Apple for much of its revenue.Most engineers in the joint venture will be based in Taipei, while management will be in Europe, said Calvin Chih, the chief executive officer of Foxconn’s Hong Kong-listed unit FIH Mobile. The companies have not set a goal for the market share the new entity wants to achieve.Chief Executive Officer Carlos Tavares expressed openness to having Stellantis partner with tech giants -- including with Apple, which has been exploring an automotive foray for several years -- during a post-merger press conference in January.“Stellantis is open for business always as long as it creates win-win situations and as long as it doesn’t create any technology dependence that would penalize the future of the company,” Tavares said.(Updates with executive’s comment in the fifth paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
HANOI (Reuters) -Vietnam's northern province of Bac Giang ordered on Tuesday four industrial parks, including three that house production facilities of Taiwan's Foxconn, to temporarily shut down due to an outbreak of COVID-19. The industrial parks will be closed until further notice, the province's People's Committee said in a statement.
Carmaker Stellantis and iPhone assembler Foxconn plan to create a joint venture to supply in-car and connected-car technologies across the auto industry, they said on Tuesday. The two companies have signed a non-binding memorandum of understanding to form Mobile Drive, a 50-50 joint venture based in the Netherlands focused on infotainment, telematics and cloud service platform development.