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    2317   TW0002317005

HON HAI PRECISION INDUSTRY CO., LTD.

(2317)
  Report
End-of-day quote Taiwan Stock Exchange  -  05-24
109.50 TWD   +1.39%
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Amazon and Stellantis partner to deploy smarter cars, cleaner vans

01/05/2022 | 08:46am EDT
Amazon logo at the company's logistics center in Bretigny-sur-Orge

(Reuters) - Amazon.com Inc and Stellantis NV said Wednesday they will collaborate to develop cars and trucks with Amazon software in the dashboards, and deploy electric vans made by Stellantis on Amazon's delivery network.

The agreements expand Amazon's efforts to get a bigger foothold in the transportation industry, and could help Stellantis close the gap with Tesla Inc in developing vehicles with sophisticated, software-powered infotainment features that are connected to the data processing cloud.

Stellantis shares were up more than 3% in Milan.

The agreements between Stellantis and Amazon, the online retailer and cloud computing power, announced in conjunction with the CES technology conference, are wide ranging, involving software and hardware.

Amazon and Stellantis said they will work together to develop software for the "digital cockpit" infotainment systems of Stellantis vehicles that will start launching in 2024. Stellantis said it will use Amazon's Alexa technology for voice controlled features, "navigation, vehicle maintenance, ecommerce marketplaces, and payment services."

Big ecommerce delivery fleet operators such as Amazon will be key to determining winners and losers as established automakers compete with startups to electrify the world's package delivery system.

Stellantis Chief Software Officer Yves Bonnefont said during a conference call Wednesday that the automaker's use of Alphabet Inc's Android software for vehicles will "evolve over time."

Amazon will also help Stellantis speed up development of new digital products and "upskill Stellantis' global workforce." Stellantis and other established automakers are scrambling to match Tesla's ability to rapidly deploy new vehicle features and revenue-generating subscription services using software delivered over the air.

As part of the partnership, Stellantis will use Amazon as its "preferred cloud provider" to provide the mobile network and computing power future vehicles will need.

Under what Stellantis said is a separate agreement, Amazon will be the first customer for Stellantis' new line of electric delivery vans due to launch in 2023. The companies said they plan to put thousands of Stellantis Ram ProMaster electric vans on the road every year.

Amazon has a previous agreement to buy up to 100,000 electric vans from startup Rivian Automotive.

Stellantis in May had agreed with iPhone assembler Foxconn to create a joint venture to supply in-car and connected-car technologies across the auto industry.

(Reporting by Joseph White, Gilles Guillaume and Abhijith Ganapavaram in Bengaluru; Editing by Amy Caren Daniel, Alexandra Hudson)

By Joseph White and Gilles Guillaume


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.14% 2094.75 Delayed Quote.-26.84%
AMAZON.COM, INC. 2.11% 2125.59 Delayed Quote.-37.56%
APPLE INC. -0.80% 139.2242 Delayed Quote.-20.96%
HON HAI PRECISION INDUSTRY CO., LTD. 1.39% 109.5 End-of-day quote.5.29%
RIVIAN AUTOMOTIVE, INC. 1.88% 27.07 Delayed Quote.-74.41%
STELLANTIS N.V. 1.81% 13.378 Real-time Quote.-21.21%
STELLANTIS N.V. 1.86% 13.38 Delayed Quote.-21.28%
TESLA, INC. 4.67% 658.2013 Delayed Quote.-40.56%
WISDOMTREE CLOUD COMPUTING UCITS ETF - ACC - USD 0.90% 27.905 Delayed Quote.-46.61%
All news about HON HAI PRECISION INDUSTRY CO., LTD.
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Financials
Sales 2022 6 196 B 209 B 209 B
Net income 2022 145 B 4 910 M 4 910 M
Net cash 2022 286 B 9 653 M 9 653 M
P/E ratio 2022 10,4x
Yield 2022 4,57%
Capitalization 1 518 B 51 245 M 51 245 M
EV / Sales 2022 0,20x
EV / Sales 2023 0,17x
Nbr of Employees -
Free-Float 84,5%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 109,50 TWD
Average target price 134,73 TWD
Spread / Average Target 23,0%
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Managers and Directors
Yang-wei Liu Chairman & Chief Executive Officer
Te Tsai Huang Head-Finance & Deputy Spokesman
Kuo Cheng Wang Independent Director
Kuo Chuan Kung Independent Director
Ta wei Kuo Independent Director
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