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Hon
Hai, also known as Foxconn, is one of a growing number of
technology companies that are leveraging their knowhow in
electronics and communications to try to break into the EV
market, snapping up links in the automotive supply chain.
Foxtron is a joint venture between Hon Hai and Taiwan's Yulon
Motor Co. Yulon makes Nissan vehicles under license.
There was speculation earlier this year, when talks on a
possible merger between Nissan and Honda Motor Corp. fell
through, that Hon Hai might make a bid for Mitsubishi’s alliance
partner Nissan Motor Co.
The two companies said Wednesday that the EV developed by
Foxtron will be produced by Yulon and introduced in Oceania in
the second half of 2026.
Foxtron and Mitsubishi Motors gave no financial details and said
their memorandum of understanding would be followed by further
talks.
Japanese automakers like Mitsubishi have been stepping up
efforts to compete in the EV segment as they contend with
intense competition from their Chinese rivals.
Mitsubishi has set a target for having all of its product lineup
be EVs or hybrids by 2035.
Foxtron showcased its Model B, a sleek EV hatchback, and its
automotive electronics at the Consumer Electronics Show in Las
Vegas in January.
Foxconn lists 11 vehicle models on its website, including its
Model T bus, Model V pickup truck, Model N van, its Model B, and
its “luxury flagship” Model E sedan.
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