Foxconn and Fiat Chrysler work on electric vehicles for China
2. April 2020The electronics specialist Foxconn, otherwise better known for the production of iPhones, is planning a joint venture with Fiat Chrysler FCA in the field of electric vehicles. At the beginning of January, Foxconn announced that the two companies will combine their core competencies to develop electric cars for the Chinese market. FCA will take over the actual production, while the Taiwanese technology group will contribute the electronics and software.
Fiat and Chrysler, as well as Jeep and Dodge, other brands of the FCA Group are lagging behind in the field of electric vehicles compared to other car manufacturers. Recently, a merger with the French PSA group (including Peugeot and Citroën) was discussed in response to the changed environment of the automotive market. In addition, Italian-American car manufacturer FCA has been considering several acquisitions of US start-ups in the field of electric mobility in order to accelerate its plans.
Supported by government subsidies, China has become the world’s largest market for electric vehicles. Despite an 8 percent decline in overall car sales over the period 2018-2019, electric vehicles grew 6 percent. Even with the current slight decline in the Chinese economy, experts expect that the market for electric vehicles in China will easily outperform the European and American markets.
FCA is not alone in its plan to establish itself in the Chinese market for electric vehicles. Numerous Western car manufacturers have been trying to do so for years. Both companies could benefit from the FCA-Foxconn joint venture: FCA gains access to the Chinese market while Foxconn can expand its current business as a manufacturer of electronic equipment. Foxconn CEO Liu hopes that in the future, sales of electric vehicles will ultimately contribute 10 percent of the company’s turnover. A mandatory CCC certification is required for the export of vehicle components and other products. We would be happy to advise you on certification according to the CCC (China Compulsory Certificate) guidelines.
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