Mitsubishi Electric and Foxconn to form EV venture

· Politics · Japan · Taiwan

Japan's Mitsubishi Electric and Taiwan's Foxconn (Hon Hai Precision Industry) agreed to establish an electric vehicle venture, NHK reported. The tie-up pairs a Japanese electrical equipment maker with the Taiwanese contract manufacturer that has been expanding into EV production.

Why it matters：The venture reflects Japanese and Taiwanese firms trying to lower EV development costs and compete against Chinese electric-vehicle champions.

Key points

  • The venture is between Mitsubishi Electric and Foxconn
  • The partners bring electrical equipment and contract manufacturing expertise
  • The report came from NHK

Sources (original reporting)

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