Foxconn invests $10 million in Autotalks

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Foxconn Interconnect Technology (FIT), a subsidiary of Foxconn. has invested $10m in Autotalks, the V2X (Vehicle-to-Everything) communication solutions company, following a strategic collaboration agreement between the two companies.

FIT and Autotalks said that they will look to accelerate V2X penetration across automotive and micro-mobility segments, leveraging Autotalks' automotive V2X technology, and its recently launched ZooZ micro-mobility platform. Joint activity in micro-mobility activity will start later this year, while automotive activity is set to start in 2022.

FIT and Foxconn Group have made a number of significant advances in electric vehicle development that includes critical technology research and development and joint ventures with leading automakers.

The establishment of the MIH (Mobility in Harmony) consortium was also a significant milestone that Foxconn group and its members have collectively achieved. Foxconn also recently launched three EV prototypes, showcasing the company'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," 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."