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Fiat Chrysler Automobiles NV said Friday that it is in talks with electronics company Foxconn Technology Group (Hon Hai Precision Industry Co.) over plans to create a joint venture to develop electric vehicles.
The proposed partnership would initially focus on the Chinese market and the two companies 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,” the Italian-American auto maker said. The statement confirmed news revealed by a Foxconn 2317, +2.56% regulatory filing in Taiwan a few hours earlier.
There isn’t any guarantee that a final agreement will be reached, Fiat FCA, +0.00% said.
