Foxconn and Mitsubishi to develop electric vehicles

Foxconn (Hon Hai) and Mitsubishi Motors of Japan announced that the two parties have reached an agreement in principle for Hon Hai to develop and supply an electric vehicle to Mitsubishi Motors. This electric vehicle supplied to Mitsubishi Motors of Japan will be developed by Hon Hua Advanced, a joint venture between Yulon and Hon Hai, and produced by Yulon Motor's Sanyi plant. It is planned to be launched in Australia and New Zealand in the second half of 2026.