The world’s largest contract electronics manufacturer, Foxconn, has announced plans to produce electric vehicles for Mitsubishi Motors.
Foxconn, best known for assembling Apple’s iPhones, has been eyeing the EV market for years. It previously hinted at buying a stake in Nissan, looking for a way into the auto industry.
Now, it’s teaming up with Mitsubishi, a company that has struggled to keep pace with the EV revolution, especially against fierce competition from Chinese automakers like BYD.
On Wednesday, May 7, 2025, Japanese automaker Mitsubishi Motors and Foxconn subsidiary Foxtron Vehicle Technologies signed a memorandum of understanding for the supply of an electric vehicle model.
Under the agreement in principle, the cars will be built by Foxtron, Foxconn’s EV joint venture with Taiwanese carmaker Yulon Motor.
Mitsubishi Motors said, “Mitsubishi Motors and Foxtron will proceed with discussions towards a definitive agreement.”
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According to the companies, they expect the new model to be available by the end of next year. That would be Foxconn’s first major contract in the booming and highly competitive EV industry.
Critics argue that though Foxconn has mastered mass production, cars aren’t just oversized gadgets. They require decades of engineering expertise, rigorous safety testing, and a deep understanding of consumer driving habits.
Mitsubishi hasn’t exactly been leading the EV charge. Mitsubishi, a junior partner in the Nissan-Renault alliance, has been losing ground in key markets.
Meanwhile, Foxconn is desperate to diversify beyond smartphones, especially as the global demand for consumer electronics slows down.
