Foxconn has reached a deal with Mitsubishi Motors to manufacture electric vehicles (EVs) in a significant step into the automotive sector.
The partnership, outlined in a memorandum of understanding between the companies, will see Foxtron—Foxconn's EV division—develop and produce a new Mitsubishi vehicle aimed at the Australian and New Zealand markets, Caliber.Az reports via foreign media.
This collaboration is a key milestone for Foxconn, which has been working to break into the EV market since 2019. Traditionally, in-house manufacturing has been critical in the automotive industry, but Foxtron aims to accelerate EV development by using standardized platforms and components.
The company expressed its excitement about the partnership, stating it looks forward to “a collaboration that will complement both parties and drive both business expansions.” Mitsubishi Motors, which has focused on plug-in hybrids, faces increasing competition from Chinese EV manufacturers. While its hybrid models remain popular, Mitsubishi has struggled to transition fully to electric vehicles due to its smaller scale.
Foxconn, renowned for its role in producing devices like the iPhone for Apple and PlayStation for Sony, sees its move into the EV market as part of a broader diversification strategy. This shift comes at a time when Foxconn’s iPhone business faces disruptions due to recent US tariff announcements. The new Mitsubishi EV, expected to launch in the second half of 2026, will be manufactured in Taiwan. Foxconn’s push into the automotive market also follows a previous attempt to partner with Renault for a stake in Nissan, which did not materialize.
However, with Nissan being Mitsubishi's second-largest shareholder, this new partnership offers Foxconn another avenue to strengthen its presence in the automotive industry. Mitsubishi has also expressed its intention to collaborate with its alliance partners, Nissan and Renault, to enhance its range of electrified vehicles.
By Naila Huseynova
Source: caliber.az
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