Mitsubishi & Foxconn Explore Partnership for New EVs – Report

In the buildup of Foxconn’s interest in merging with Nissan, it appears the tech giant is reportedly partnering with Mitsubishi.

Taiwanese tech giant Foxconn rose as one of the key parties interested in merging with Nissan, even before the Honda merger talks initiated and then collapsed. Now, numerous reports have suggested that the tech giant is ready to partner up with two unnamed Japanese automakers, and one of them could potentially be Mitsubishi.

According to Nikkei Asia, Foxconn has been in talks with Mitsubishi for over six months, with the company viewing this potential partnership as an opportunity to prove its manufacturing capabilities. For years, Foxconn has been trying to lower its dependency on consumer electronics, with its diversification plan including its venture into the EV market.

The Taiwanese tech firm has previously signed partnerships with other EV marques like Fisker, Lordstown, and even Geely, but has yet to achieve the growth it had hoped for. With an ambitious target of having a 5% share in the global EV market, perhaps a partnership with more established automakers like Mitsubishi or Nissan could be the major breakthrough the firm longed for.

As of now, there are no exact details on which Mitsubishi EVs Foxconn might produce, but with the Japanese automaker having plans to launch several new EVs in the US next year, perhaps it would be enough to keep Foxconn busy for a while. More importantly, this potential partnership with Mitsubishi will also give Foxconn a stepping stone in attracting more established automakers to partner with them in the near future.

With Nissan still partially owning Mitsubishi, there is a big chance that Foxconn might also lure in the Yokohama-based automaker into its foray, thus answering the speculations of two unnamed Japanese automakers potentially partnering with them.

Should this partnership with Mitsubishi become fruitful, then Foxconn has plenty on its plate. Besides looking for new partners, the Taiwanese tech firm will also begin producing several of its in-house EV models, such as the Model B, which is a small EV hatch similar in size to the VW ID.3 and BYD Dolphin.