Hon Hai Precision Industry, known as Foxconn, has confirmed finalizing an electric vehicle supply agreement with Mitsubishi Motors, marking its first major contract with a prominent automaker. The deal will see Mitsubishi’s electric vehicles hit Oceania markets next year.
Jun Seki, Foxconn’s chief strategy officer for electric vehicles, announced the partnership during the company’s inaugural EV strategy briefing in Tokyo on Tuesday, which attracted hundreds of Japanese automotive industry representatives and potential clients.
Seki, a former Nissan executive who joined Foxconn in 2023, outlined three key strategies to woo Japanese manufacturers: contract manufacturing services, vertical integration capabilities spanning design to production, and global manufacturing presence across nine regions including Taiwan, mainland China, the US, and the Middle East.
The iPhone manufacturer is also planning to produce electric buses for the Japanese market and exploring factory acquisitions in Japan. Seki expressed interest in forming a “Taiwan-Japan alliance” with additional Japanese automakers, noting they expect to announce several Japanese partnerships within a year.
Foxconn has previously approached Nissan and Honda about potential collaborations, particularly after their merger talks fell through. The company has suggested creating a four-way partnership including Honda, Nissan, and Mitsubishi to strengthen its position in the competitive EV market.
