Foxconn, the Taiwanese tech giant best known for manufacturing Apple’s iPhones, is stepping into the electric vehicle (EV) industry with a major new partnership. The company has announced plans to design and build EVs for Japanese automaker Mitsubishi Motors, marking its first significant move into the competitive car market.
Under the agreement, Foxconn’s joint venture, Foxtron – formed with Taiwanese automaker Yolon Motor – will handle the design and production of the new EV model. The companies aim to launch the vehicle by the end of 2025, with plans to introduce it in Australia and New Zealand by late 2026. While the deal is currently a non – binding memorandum of understanding, both parties are working toward a final contract.
This move highlights Foxconn’s growing ambitions beyond electronics manufacturing. The company has been eyeing the automotive sector for years, even expressing interest in a potential stake in Nissan Motor for collaboration opportunities. Now, with Mitsubishi – a key player in the Nissan-Renault alliance – Foxconn is positioning itself as a serious contender in the EV supply chain.
The partnership also reflects the shifting dynamics in the global auto industry. Chinese EV manufacturers like BYD have surged ahead, putting pressure on traditional automakers in markets across Southeast Asia, South America, and Europe. Mitsubishi, like many Japanese carmakers, is looking for innovative ways to stay competitive, and Foxconn’s manufacturing expertise could provide a crucial edge.
If successful, this venture could reshape Foxconn’s business model, proving it can thrive beyond smartphones and into the future of mobility. As the EV race heats up, all eyes will be on whether this iPhone maker can become a major force in electric cars.
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