Foxconn, the world’s largest contract electronics manufacturer and maker of Apple’s iPhones, has signed a memorandum of understanding with Mitsubishi Motors to develop and supply a new electric vehicle model. The partnership marks Foxconn’s first major contract in the EV industry.
Foxconn’s EV unit, Foxtron Vehicle Technologies, will design and build the electric vehicle in collaboration with Mitsubishi Motors, The vehicle will be manufactured in Taiwan by Yulon Motor Co., a Taiwanese car maker that partners with Foxconn, and the new EV model is expected to be launched in Australia and New Zealand in the second half of 2026.
The vehicle will boast excellent driving performance and advanced infotainment features, making it well-suited for the Oceania region.
Foxconn has been trying to expand its footprint in the automotive manufacturing sector and reduce its dependence on consumer electronics, while Mitsubishi is seeking partnerships to gain more clout in the competitive EV market and optimize its production capabilities.
The partnership comes as Chinese car makers, such as BYD, continue to gain traction in the global EV market, putting pressure on established manufacturers to adapt and innovate.
