Mitsubishi and Foxconn Consider Collaboration on Electric Vehicles | Carscoops

      Later this year, Foxconn will commence the production of its own electric vehicles, the Model B hatchback and the Model C SUV.

      Foxconn is keen to enhance its presence in the automotive manufacturing industry.

      Following the collapse of merger discussions between Nissan and Honda, Foxconn is looking to invest in Nissan.

      This year, the Taiwanese firm will also initiate the manufacturing of two of its electric vehicles.

      Just days after reports indicated that Foxconn was nearing agreements with two Japanese car manufacturers, unnamed sources have revealed that Mitsubishi is among those engaged in talks. If finalized, this partnership could signify a significant change, with Mitsubishi potentially outsourcing the production of its electric vehicles to Foxconn.

      For several years, Foxconn has aimed to reduce its reliance on consumer electronics and expand into the electric vehicle sector, which it considers a key avenue for growth. The company targeted achieving a 5% share of the global EV market by 2025 and has previously entered into agreements with Lordstown, Fisker, and Byton from China. While it has not yet realized the anticipated growth, a partnership with Mitsubishi could represent a significant advancement for the company.

      According to Nikkei Asia, Foxconn has been negotiating with Mitsubishi for more than six months. The company sees this collaboration as a chance to demonstrate its manufacturing prowess, with hopes of attracting further interest from established automakers.

      Details regarding the specific Mitsubishi electric vehicles that Foxconn may manufacture remain unclear. The Japanese company is expected to unveil a new EV in the U.S. next year, although specifics about the model have not yet been confirmed. Preliminary reports suggest it could be a crossover coupe, adding to the expanding electric vehicle market.

      Foxconn's broader electric vehicle strategy included interest in acquiring Nissan late last year, but Nissan ultimately opted for discussions with Honda concerning a potential merger, which eventually fell through in early February. Nonetheless, Foxconn is reportedly still open to taking a stake in Nissan and will likely seek a deal to produce the brand's future electric vehicles.

      At this time, Foxconn has much on its agenda as it aims to play a more significant role in the electric vehicle market. In addition to collaborating with established brands, it plans to begin the production of its in-house Model B, an all-electric hatchback similar in size to the VW ID.3. The company also intends to start manufacturing the larger Model C in North America in the fourth quarter of this year.