Foxconn, the company known for manufacturing Apple’s iPhones, has announced plans to produce electric vehicles (EVs) for Mitsubishi Motors. As part of a preliminary agreement, a Foxconn joint venture will design and build the vehicles in Taiwan for Mitsubishi. The companies aim to release the new EV model by the end of next year, marking Foxconn’s first major contract in the rapidly growing and competitive EV market.
Japanese car manufacturers, including Mitsubishi, have been facing increasing competition from Chinese automakers, particularly in markets like Southeast Asia, South America, and Europe.
The EVs will be produced by Foxtron, a joint venture between Foxconn and Taiwanese automaker Yulon Motor. The companies expect the model to be available in Australia and New Zealand by mid-2026.
At this stage, the agreement remains a memorandum of understanding (MOU), which is a non-binding arrangement. The companies have confirmed they will continue discussions toward a formal agreement.
Foxconn is the world’s largest contract electronics manufacturer and works with major tech companies like Apple. The company had previously considered acquiring a stake in Nissan to expand its presence in the automotive sector.
Mitsubishi Motors is part of an alliance with Nissan and French automaker Renault. This new partnership comes amid the rapid growth of China’s automotive industry, which has taken a leading position in the global EV market, outpacing established manufacturers from other regions. As a result, traditional carmakers have been struggling to keep up with Chinese competitors such as BYD, which has been gaining traction worldwide.
