Hon Hai Precision Industry (Foxconn) signed a memorandum of understanding with Mitsubishi Motors yesterday to develop electric vehicles through its subsidiary Foxtron. The EVs will be manufactured by Yulon Motor in Taiwan and are scheduled to launch in Australia and New Zealand markets in the second half of 2026.
Industry experts call this agreement a milestone for Taiwan’s automotive sector, representing Foxconn’s first major EV contract with an established international automaker. The partnership allows Foxconn to showcase its manufacturing capabilities beyond consumer electronics while potentially opening doors to future collaborations with Mitsubishi’s alliance partners Nissan and Renault.
Although specific models weren’t disclosed, analysts speculate the agreement likely involves Foxtron’s Model B crossover or smaller Model A. Foxconn Chairman Young Liu emphasized the company’s platform-based, modular approach to accelerate EV development timelines.
The deal advances Foxconn’s automotive ambitions after previous discussions with Nissan and Honda. Beyond the Oceania market, the Taiwanese manufacturer aims to introduce multiple electric vehicle models, including buses, to the Japanese market by 2027.
