Fiat Chrysler Automobiles NV plans to develop electric vehicles with contract-electronics giant Foxconn Technology Group, according to a regulatory filing, as the Italian-American auto maker looks to make up ground in the market for battery-powered cars.

Foxconn said in a filing in Taiwan on Thursday that it is establishing a joint venture with Fiat Chrysler to develop and produce electric vehicles as well as operate internet-connected vehicles. Foxconn’s ownership in the joint venture would be 40% or less, the Taiwan-based...