Foxconn, the Taiwanese electronics giant renowned for assembling Apple’s iPhones, has signed a memorandum of understanding (MOU) with Mitsubishi Motors to develop and manufacture a new electric vehicle (EV). This collaboration marks Foxconn’s significant entry into the automotive sector, aiming to leverage its manufacturing expertise to produce EVs for the Japanese automaker.
Under the agreement, Foxconn’s EV subsidiary, Foxtron Vehicle Technologies, will be responsible for the design and development of the EV. The vehicle will be manufactured in Taiwan by Yulon Motor Co., a partner of Foxconn, and is slated for release in the Australian and New Zealand markets in the second half of 2026.
The forthcoming EV is expected to feature advanced driving performance and a state-of-the-art infotainment system, catering to the preferences of consumers in the Oceania region. This initiative aligns with Mitsubishi’s strategy to expand its electrified vehicle lineup and respond to increasing competition in the global EV market.
This partnership represents a strategic move for Foxconn as it diversifies beyond electronics manufacturing into the automotive industry. By collaborating with established automakers like Mitsubishi, Foxconn aims to establish a foothold in the rapidly growing EV sector.
Mitsubishi, a member of the Renault-Nissan-Mitsubishi Alliance, is also exploring collaborations with its alliance partners to enhance its electrified vehicle offerings globally. The company has plans to introduce additional hybrid and electric models, including a battery-electric vehicle in North America by summer 2026.
While the MOU outlines the intent for collaboration, both companies will continue discussions to finalize a definitive agreement. The success of this venture could pave the way for future partnerships between technology firms and traditional automakers, signaling a shift in the automotive industry’s approach to EV development.
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