The EV unit of Taiwanese know-how big Foxconn has agreed in precept to develop and provide an electrical automobile mannequin to Japan’s Mitsubishi Motors, the businesses stated Wednesday.
It marks Foxconn’s first main contract within the fast-growing EV sector, and comes as analysts say many Japanese automakers might want to search various companions to remain aggressive as automobiles turn into extra high-tech.
Mitsubishi Motors and Foxtron Vehicle Technologies stated that they had signed a memorandum of understanding and would “proceed with discussions towards a definitive agreement”.
“The EV model to be supplied to Mitsubishi Motors… will be developed by Foxtron, manufactured in Taiwan by Yulon Motor Co., Ltd, and introduced in the Oceania region (Australia and New Zealand) in the second half of 2026,” they stated.
The mannequin’s “excellent driving performance and infotainment functions as an electric vehicle make it ideal for the region”, their assertion added.
Foxconn — also referred to as Hon Hai — is the world’s largest contract electronics producer and builds units for main tech firms, together with Apple’s iPhones.
It has just lately been pushing into areas starting from electrical automobiles to semiconductors and servers.
Foxconn stated in February it was open to purchasing Renault’s stake in Japan’s Nissan.
Experts additionally say Honda, whose merger talks with Nissan fell by means of in February, is also a superb candidate for a Foxconn tie-up because it has applied sciences Honda needs.
Honda and Nissan’s failed merger had been seen as a method for the auto giants to catch up with Chinese rivals on electrical automobiles.
China’s extremely aggressive EV market is the most important on the planet, led by Shenzhen-based carmaker BYD which is accelerating its abroad enlargement.
Published – May 07, 2025 02:47 pm IST
