In a significant move signaling its commitment to electric mobility, Mitsubishi Motors Corporation has announced a memorandum of understanding (MOU) with Foxtron Vehicle Technologies, a subsidiary of Taiwanese tech giant Foxconn. Under this agreement, Foxtron will develop a new electric vehicle (EV) model for Mitsubishi.
The strategic partnership aims to leverage Foxtron’s rapidly growing expertise in EV design and manufacturing to accelerate Mitsubishi Motors’ electrification strategy. The Japanese automaker, a junior partner in the Renault-Nissan-Mitsubishi Alliance, has been progressively outlining its plans for a fully electrified future, aiming for 100% of new car sales to be electric or hybrid by the mid-2030s.
According to a joint statement released today, the EV model developed by Foxtron will be manufactured in Taiwan by Yulon Motor, another key partner in Foxtron’s operations. The initial rollout of this new EV is slated for the Oceania region in the second half of 2026, with potential plans for expansion into other markets, including Taiwan and Japan, at a later stage.
This collaboration reflects a growing trend in the automotive industry where traditional automakers are partnering with technology companies to expedite their transition to electric vehicles. Foxconn, best known as a major supplier for Apple, has been aggressively diversifying into the EV sector with ambitious goals of capturing a significant share of the global EV market. The company has been establishing partnerships across the automotive supply chain and developing its own EV platform and models.
For Mitsubishi Motors, outsourcing the development of an EV model to Foxtron offers several key advantages. It allows the company to tap into Foxtron’s dedicated EV development resources and potentially shorten the typically lengthy vehicle development timelines. This move could also provide Mitsubishi with cost efficiencies in the design and engineering phases, allowing them to focus more on branding, marketing, and potentially other areas of their EV strategy, such as battery technology and software integration within the Alliance framework.
The Oceania market, which will be the first to receive this jointly developed EV, presents a strategic starting point. It allows both companies to gauge market response in a region with increasing EV adoption without immediately entering highly competitive markets like China or Europe.
This MOU signifies a deepening relationship between Mitsubishi Motors and Foxconn. Earlier reports had indicated Foxconn’s interest in collaborating with Japanese carmakers, particularly as they face increasing competition from Chinese EV brands. This partnership could pave the way for further collaborations in the future, potentially extending to other EV models or components.
While the specifics of the new EV model remain undisclosed, this announcement underscores Mitsubishi Motors’ serious intent to bolster its EV lineup and accelerate its journey towards a fully electrified future. By joining forces with a dynamic player like Foxtron, Mitsubishi aims to enhance its competitiveness in the rapidly evolving global automotive landscape. Discussions between the two companies are reportedly ongoing towards finalizing a definitive agreement, which is expected to provide more details on this collaborative EV project.