Taiwanese electronics giant Foxconn, best known as the maker of Apple’s iPhones, is taking a major step into the electric vehicle (EV) industry through a new partnership with Japanese automaker Mitsubishi Motors. Under a recently signed memorandum of understanding, Foxconn’s EV joint venture Foxtron will design and manufacture Mitsubishi-branded electric cars in Taiwan, with plans to launch the new models by the end of 2025.
This marks Foxconn’s most significant automotive collaboration to date, as it aims to diversify beyond electronics and establish a presence in the booming EV sector. The agreement is currently non-binding, but both companies say they are committed to moving toward a definitive deal.
Foxtron, the EV unit formed between Foxconn and Taiwanese automaker Yulon Motor, will handle design and manufacturing management for the upcoming Mitsubishi EV. The vehicle is expected to debut in the Australia and New Zealand markets in the second half of 2026, reflecting the partners’ shared ambition to tap into growing demand in Oceania and beyond.
The move comes as traditional Japanese automakers like Mitsubishi face increasing competition from mainland Chinese car manufacturers, particularly in Southeast Asia, South America, and Europe. China’s rapid expansion in the EV industry, led by companies like BYD and Nio, has put pressure on established global carmakers to innovate and form strategic alliances.
Foxconn, formally known as Hon Hai Precision Industry Co., has long sought entry into the auto industry. It previously signaled interest in collaborating with Japan’s Nissan Motor and has unveiled multiple EV prototypes under the Foxtron brand. This partnership with Mitsubishi could serve as a key milestone in establishing Foxconn as a serious player in EV manufacturing.
Mitsubishi Motors is part of a broader alliance with Nissan and French automaker Renault, and this new deal may complement its global EV strategy.
As competition in the electric vehicle space intensifies, the Mitsubishi-Foxconn venture represents a strategic pivot combining automotive legacy with contract manufacturing expertise to meet rising demand in a fast-evolving market.
