Foxconn Teams Up with Mitsubishi to Build Electric Vehicles for Global Markets
Taipei, Taiwan — Foxconn, widely known for assembling Apple’s iPhones, is making a bold move into the electric vehicle space through a new collaboration with Mitsubishi Motors. The two companies have signed a memorandum of understanding (MoU) to design and manufacture Mitsubishi-branded EVs in Taiwan.
Under the proposed deal, vehicles will be built by Foxtron, Foxconn’s EV joint venture with local automaker Yulon Motor, and will be aimed at the Australia and New Zealand markets starting in late 2026.
Although non-binding for now, both companies confirmed ongoing talks to finalize the agreement, which would mark Foxconn’s first major automotive contract in the EV sector.
Rising Competition Drives Strategic Shift
The partnership comes as Japanese automakers like Mitsubishi face mounting competition from mainland Chinese EV giants such as BYD, especially across emerging markets in Southeast Asia, South America, and Europe.
Foxconn’s EV ambitions have been known for some time. The company previously expressed interest in forming ties with Nissan to strengthen its automotive footprint. This new venture represents a critical step in transforming Foxconn from a tech manufacturer into a key EV player.
A New Chapter for Mitsubishi
Mitsubishi is part of a larger alliance with Nissan and Renault. Partnering with Foxconn allows the Japanese automaker to tap into Taiwan’s advanced manufacturing infrastructure and Foxconn’s rapid production capabilities.
The upcoming vehicle—details of which remain under wraps—is expected to expand Mitsubishi’s global EV lineup at a time when consumer demand for electric cars is growing despite economic headwinds.
EV Industry Outlook
As China leads the global EV revolution, legacy automakers are racing to catch up. Foxconn’s entry signals how non-traditional players from the electronics world are shaking up the car industry through partnerships, innovation, and manufacturing scale.
The Mitsubishi-Foxconn EV model is anticipated to hit roads in Australia and New Zealand in the second half of 2026.
