Foxconn signs EV pact with Japan's Mitsubishi Motors

The EV unit of Foxconn has agreed in principle to develop and supply an electric vehicle model to Mitsubishi Motors.

The EV unit of Taiwanese technology giant Foxconn has agreed in principle to develop and supply an electric vehicle model to Japan's Mitsubishi Motors, the companies said Wednesday.

It marks Foxconn's first major contract in the fast-growing EV sector, and comes as analysts say many Japanese automakers will need to seek alternative partners to stay competitive as cars become more high-tech.

Mitsubishi Motors and Foxtron Vehicle Technologies said 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 said.

The model's "excellent driving performance and infotainment functions as an electric vehicle make it ideal for the region", their statement added.

Foxconn — also known as Hon Hai — is the world's largest contract electronics manufacturer and builds devices for major tech companies, including Apple's iPhones.

It has recently been pushing into areas ranging from electric vehicles to semiconductors and servers.