Japanese automaker Mitsubishi Motors and Foxtron Vehicle Technologies, the electric vehicle arm of Taiwanese electronics giant Foxconn, have signed a memorandum of understanding (MOU) for the supply of an electric vehicle model, the companies said on Wednesday.
Under the agreement, the EV model will be developed by Foxtron and manufactured in Taiwan by automaker Yulon Motor. Mitsubishi plans to introduce the vehicle in the Oceania region in the second half of 2026, it said in a statement.
“Mitsubishi Motors and Foxtron will proceed with discussions towards a definitive agreement,” the Japanese automaker noted, ahead of its full-year financial results announcement on Thursday.
Foxconn, best known as a supplier to Apple, is seeking to expand its presence in the EV sector and has identified Japan as a key market. Jun Seki, chief strategy officer for Foxconn’s EV division, said at a Tokyo seminar in April that the company is actively pursuing partnerships with Japanese manufacturers. At the same event, Seki confirmed collaboration with Mitsubishi but declined to provide further details.
Japanese automakers face rising competition from Chinese EV brands that are expanding aggressively in markets including Europe, Brazil and Southeast Asia. Mitsubishi, which is part of the global alliance with Nissan Motor and French carmaker Renault, is the latest Japanese brand to explore new EV collaborations amid shifting global demand.
Foxconn has also expressed interest in partnering with Nissan, including the possibility of taking a stake in the company. Its EV unit Foxtron, formed with Yulon, currently serves Yulon-owned Luxgen in Taiwan.
The announcement follows failed merger talks earlier this year between Nissan and Honda Motor to create a $60 billion automotive group, which collapsed over a proposal that would have made Nissan a subsidiary of Honda.
Source: Reuters