Israeli PRs

Foxconn Interconnect Technology invests $10 million in Autotalks following strategic collaboration agreement

Foxconn Interconnect Technology (FIT), a subsidiary of Foxconn (Hon Hai Technology Group), the world’s largest electronics manufacturer, and Autotalks, a V2X (Vehicle-to-Everything) communication solutions pioneer, today announced that FIT invested $10 million following a strategic collaboration agreement between the two companies.

FIT and Autotalks will join forces to accelerate V2X penetration across automotive and micro-mobility segments, leveraging Autotalks’ automotive V2X technology, and its recently launched ZooZ micro-mobility platform. The joint micro-mobility activity will start this year, and the automotive activity will start early next year.

FIT and Foxconn group has made significant achievements in electric vehicle development that included critical technology research and development and joint ventures with leading automakers. The establishment of MIH (Mobility in Harmony) consortium was also a significant milestone that Foxconn group 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 see 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.”

“We are glad to enter into strategic collaboration agreement with Foxconn and receive the new investment from the world’s largest electronics manufacturer,” said Hagai Zyss, CEO of Autotalks. “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.”

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