How Tech Giant Foxconn is Revolutionising the EV Market
Mitsubishi Motors has crossed into the electric vehicle domain with a collaboration that highlights the growing synergy between the tech sector and traditional automotive manufacturers.
By signing a memorandum of understanding (MoU) with Foxtron — a subsidiary of tech giant Foxconn — Mitsubishi is set to embark on a new era of electric vehicle (EV) production.
The alliance aims to craft and deliver EVs specifically for Australia and New Zealand's markets, with the expected launch in the latter half of 2026.
These novel EVs will be constructed in Taiwan, utilising the manufacturing capabilities of Yulon Motor Co.
Mitsubishi Motors says the vehicles' will have an “excellent driving performance as an EV", showcasing a commitment to technological excellence and sustainability in automotive design and production.
Foxconn’s technological influence
The venture underscores Mitsubishi's strategic shift towards more environmentally-friendly transportation solutions, a core aspect of its wider environmental initiatives.
A significant highlight of this strategy is the electrification of new models, positioning Mitsubishi as a proactive player in addressing climate change through automotive innovation.
Foxconn stands as one of the world’s foremost technology manufacturers, producing devices such as iPhones, Xbox consoles, the majority of PlayStation systems and a wide array of Sony electronics.
It is also among the largest employers globally, with a workforce that exceeded 1.2 million people in 2020, the majority of whom are based in China, though the company maintains a significant presence in Taiwan as well.
Foxtron was established in 2020 and is a joint venture between Foxconn and Yulon, marking Foxconn’s strategic entry into the electric vehicle sector.
Yulon manufactures licensed versions of vehicles for several major brands, including GM, Mitsubishi, and Nissan.
The collaboration between Mitsubishi Motors and Foxtron aims to leverage Foxconn’s expertise in electrical engineering to enhance their automotive offerings.
Foxtron focuses exclusively on producing electric vehicles, which have the potential to significantly reduce greenhouse gas emissions if widely adopted.
According to the IEA, road transport accounted for around 12% of global emissions in 2023, amounting to nearly 4 gigatonnes.
Foxtron says it is “very happy to be able to participate in the development of Mitsubishi Motors' electric vehicles and hopes that the cooperation between the two parties can complement each other and jointly expand the global market”.
Technological advantages of the partnership
By infusing Foxconn's technological expertise with Mitsubishi's automotive experience, particularly in EVs, the partnership aims to advance EV innovation and adoption.
Takao Kato, President and CEO of Mitsubishi Motors, says: “Concerning climate change countermeasures, we will continue to introduce electric vehicles, plugin hybrid vehicles and hybrid vehicles at appropriate times, as well as promote energy conservation measures in our business activities and the introduction and expansion of renewable energy, aiming to achieve carbon neutrality in the entire supply chain by 2050.
“As the automotive industry faces an era of profound change, Mitsubishi Motors regards digital transformation and expansion into new business fields as new seeds for growth, and we will continue to strengthen these initiatives.”
In 2009, Mitsubishi was a pioneer with the launch of the i-MiEV, the world's first highway-capable electric car.
While the company currently focuses on plug-in hybrid electric vehicle (PHEV) technology, this new venture with Foxtron points to a committed focus on pure battery electric vehicles, further decreasing the industry's carbon footprint.
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