Foxconn, best known for assembling Apple’s iPhones, has unveiled plans to manufacture electric vehicles (EVs) for Japanese automaker Mitsubishi Motors.

The agreement, currently at the memorandum of understanding stage, outlines a collaboration under which a Foxconn-led joint venture will design and produce EVs in Taiwan. Production will be carried out by Foxtron, Foxconn’s electric vehicle arm formed with Taiwan’s Yulon Motor.

The companies anticipate launching a new model by late 2025, marking Foxconn’s most significant entry yet into the rapidly evolving and fiercely competitive EV sector.

The announcement comes as traditional Japanese car brands like Mitsubishi face mounting pressure from fast-growing Chinese EV manufacturers, especially in key markets such as Southeast Asia, South America, and Europe.

In a joint statement, the companies said the upcoming vehicle is expected to debut in Australia and New Zealand in the second half of 2026. Foxtron will oversee both design and manufacturing processes.

While the deal remains non-binding for now, both firms indicated they are working toward a formal agreement.

Foxconn, the world’s largest electronics contract manufacturer, has been eyeing opportunities in the auto sector as part of its diversification strategy. The company has previously expressed interest in partnering with Japan's Nissan to expand its automotive footprint.

Mitsubishi Motors, a member of the Renault-Nissan-Mitsubishi alliance, is seeking to bolster its EV offerings as the global industry shifts rapidly toward electrification.

The partnership underscores broader shifts in the global car industry, where legacy manufacturers are racing to catch up with China’s EV giants like BYD, which continue to gain international market share.

Source: BBC

SMS/