TAIPEI (Taiwan News) — Foxconn is deepening ties with Japan’s Mitsubishi group as it accelerates its push into electric vehicles, Nikkei Asia reported Wednesday.
The Taiwanese manufacturer is in talks to acquire a stake in Mitsubishi Electric Mobility, a subsidiary of Mitsubishi Electric, according to sources familiar with the matter. Discussions include a possible 50% stake and joint operations, though no final decision has been made.
The move would mark the latest in a series of partnerships between Foxconn and Mitsubishi companies.
Foxconn entered the EV sector in 2019 as it sought to diversify beyond electronics assembly. The company has since rolled out electric buses and passenger vehicles in Taiwan while expanding overseas.
Foxconn aims to become a contract design and manufacturing services provider for EVs, per Nikkei Asia. The model is designed to offer end-to-end solutions, covering design and sales, effectively positioning the company as a comprehensive provider.
Japan has emerged as a key target market despite relatively slow EV adoption. Foxconn Chair Young Liu (劉揚偉) has said he sees all of Japan’s top automakers as potential clients for Foxconn’s EV platform.
Foxconn’s first breakthrough came with Mitsubishi Motors, signing an agreement last year to supply electric vehicles. The companies plan to introduce Foxconn-developed passenger EVs in Oceania in the second half of this year.
In January, Foxconn also formed a joint venture with Mitsubishi Fuso Truck and Bus to produce electric buses in Japan. The vehicles will be manufactured at Mitsubishi Fuso’s bus plant using Foxconn-developed platforms.
The potential investment in Mitsubishi Electric Mobility would strengthen Foxconn’s capabilities in key EV components. The unit develops technologies such as inverters and motors, alongside legacy components like alternators and starters.
Foxconn has been working to bring more component production in-house to improve efficiency and reduce costs. In Taiwan, it is building capabilities in batteries and power semiconductors, both critical to EV development.
The company has also pursued overseas technology partnerships. In 2024, it acquired a 50% stake in a chassis systems subsidiary of ZF Group, a major German auto supplier.
