Foxconn buys into V2X expert Autotalks

November 23, 2021 // By Christoph Hammerschmidt
Foxconn buys into V2X expert Autotalks
Through its subsidiary Foxconn Interconnect Technology (FIT), the world's largest electronics manufacturer Foxconn (Hon Hai Technology Group) has acquired a stake in the Israeli company Autotalks. This is another step by Foxconn, which is said to have ambitions to develop and manufacture its own vehicle models, to occupy strategic positions in the automotive value chain.

According to a strategic cooperation agreement, FIT and Autotalks, a pioneer in vehicle-to-everything (V2X) communication solutions, intend to join forces to accelerate V2X penetration in the automotive and micromobility segments, leveraging Autotalks' automotive V2X technology and the recently launched ZooZ micromobility platform. Joint activities in the micromobility segment are expected to begin this year, with automotive activities starting early next year. FIT's contribution to Autotalks is $10 million.

FIT and Foxconn Group have made certein achievements in electric vehicle development that included critical technology research and development as well as joint ventures with automotive OEMs. The establishment of MIH (Mobility in Harmony) consortium was also a milestone that Foxconn and its members have collectively achieved. Foxconn’s electric vehicles strategy drew massive attention with their recent launch of three EV prototypes, showing Foxconn’s commitment to become a global next-generation automaker.

"Over the last couple of years, we have been strategically expanding into the automotive segment, with special focus on electric vehicles, connectivity, mobility and safety and technologies," noted Thomas Fann, Special Assistant to Chairman at FIT. "We regard Autotalks as the provider of the world's most trusted V2X solution, with the highest performance, security and reliability. This is why we decided to enter into strategic collaboration agreement with Autotalks and invest $10 million in this company."

Hagai Zyss, CEO of Autotalks, added “the synergy between the companies is very natural, considering the strategic place V2X has in the future of safety and mobility, and Autotalks' V2X market leadership. V2X is a critical safety sensor, the only one that can see behind corners, protect micro-mobility users, and can also increase the range of Electrical Vehicles."

FIT is a global solutions developer and manufacturer of connectivity solutions with offices and manufacturing sites located in Asia, the Americas and Europe and regarded as a leader in the manufacturing of high precision


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