iPhone maker Foxconn broadcasts plan to construct Mitsubishi Motor EVs | EUROtoday

Foxconn, the maker of Apple’s iPhones, has introduced plans to provide electrical automobiles (EV) for Japanese automobile large Mitsubishi Motors.

Under the settlement in precept, a Foxconn three way partnership will design and construct automobiles in Taiwan for Mitsubishi.

The corporations say they anticipate the brand new mannequin to be accessible by the top of subsequent yr, beneath what can be Foxconn’s first main contract within the booming and extremely aggressive EV business.

Japanese automobile makers like Mitsubishi have confronted rising competitors from mainland Chinese rivals, significantly in markets in South East Asia, South America and Europe.

The corporations mentioned the automobiles will likely be constructed by Foxtron – Foxconn’s EV three way partnership with Taiwanese automobile maker, Yulon Motor.

“Foxtron will provide design and manufacturing management services and this model is expected to enter the Australia and New Zealand markets in the second half of 2026,” they added.

At this stage, the settlement is a so-called memorandum of understanding – a non-binding deal between the 2 corporations. The corporations have mentioned they “will proceed with discussions towards a definitive agreement.”

Foxconn is the world’s largest contract electronics producer and counts main know-how corporations such has Apple amongst its clients.

It beforehand mentioned it could think about shopping for a stake in Japan’s Nissan Motor for “co-operation” because it regarded to get into the motor business.

Mitsubishi Motors is a junior companion in an alliance between Nissan and French automobile maker Renault.

The strikes come as China’s automobile business has expanded quickly in recent times and the world’s second largest economic system has emerged as a pacesetter within the rising EV market.

Established automobile makers all over the world have struggled to compete as main Chinese gamers like BYD proceed to win new clients.