Foxconn Gears Up: Taiwanese Giant to Manufacture New Mitsubishi EV Model

Hon Hai (Foxconn) Poised to Drive EV Innovation with Partnership, Targeting Australia, New Zealand, and Beyond.

Taipei, Taiwan – Hon Hai Precision Industry Co., the Taiwanese manufacturing powerhouse known globally as Foxconn, has reportedly secured a deal to manufacture a new electric vehicle model for Mitsubishi Motors Corp. of Japan, according to an industry source speaking on Sunday.

The source, who requested anonymity, revealed that initial production of the new EV model will commence at a plant in Miaoli County, Taiwan, owned by Yulon Motor, a Hon Hai partner.

The upcoming EV is expected to be a modified iteration of the Model B prototype that Hon Hai unveiled in 2022. The source did not provide a specific timeline for the commencement of production.

These urban cars are projected to launch in Australia and New Zealand in 2026, with potential future expansions into Taiwan and Japan, as per the source.

The company's electric vehicle development is led by Hon Hai Chairman Young Liu (劉揚偉), while Jun Seki, the Chief Strategy Officer (CSO) and former Nissan veteran of 33 years, oversees the Japanese aspects of the project.

Hon Hai chose not to comment on the reported collaboration with Mitsubishi Motors.

During an investor conference in March, Hon Hai announced its intention to establish contract design and manufacturing services (CDMS) agreements with Japanese clients, aligning with their EV development business strategy.

Additionally, Foxtron Inc., a joint venture between Hon Hai, Yulon Motor, and Yulon's subsidiary Luxgen, is set to reveal a new EV model, coded n5, later this year. This model is also based on the Model B design, as confirmed by the source.

The n5 EV is also being manufactured at Yulon Motor's facility in Miaoli's Sanyi Township.

The report also highlights consistent demand for the n7 EV model, which is based on Hon Hai's SUV Model C design. Deliveries in the first three months of 2024 reached 1,120 units, contributing to a total of 7,121 units for the year.

Furthermore, Hon Hai stated that EVs based on their Model C design are scheduled to enter mass production in North America in the final quarter of this year.

Hon Hai, best recognized for its role as a contract assembler of iPhones, is strategically diversifying its portfolio, employing a "3 plus 3" strategy to broaden its reach in integrated hardware and software development.

This initiative concentrates on three emerging industries: EVs, robotics, and digital healthcare. The company intends to develop these areas leveraging artificial intelligence, semiconductor, and communications technologies, with EVs taking the lead.