Foxconn to Build Electric Vehicles for Mitsubishi Under New Deal
Foxconn, best known for manufacturing Apple’s iPhones has announced plans to produce electric vehicles (EVs) for Japanese automaker Mitsubishi Motors.
The partnership, outlined in a memorandum of understanding, involves Foxconn’s EV joint venture, Foxtron, which it operates with Taiwan’s Yulon Motor. Foxtron will be responsible for designing and manufacturing the new EVs in Taiwan. The companies expect the first model to launch by the end of 2025, with plans to enter the Australian and New Zealand markets in the second half of 2026.
While the agreement is currently non-binding, both companies stated they are moving toward finalizing a definitive contract.
This marks Foxconn’s first major step into the rapidly expanding and competitive EV industry. The electronics giant has previously expressed interest in entering the automotive sector, including potential collaboration with Nissan.
Mitsubishi, part of an alliance with Nissan and Renault, faces mounting pressure from fast-growing Chinese EV makers like BYD, especially in markets such as Southeast Asia, South America, and Europe.
As China continues to lead the global EV race, traditional carmakers like Mitsubishi are seeking partnerships to remain competitive in an evolving market.
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