Taiwan’s Hon Hai Precision Industry (Foxconn) has agreed to acquire a 50% holding in Mitsubishi Electric Mobility for Y115bn ($726.9m), forming an equal joint venture for electric-vehicle (EV) platforms.
Carried out through Foxconn’s investment arm Lin Yin International Investment, the agreement values the target business at an enterprise value of Y320bn and an equity value of Y230bn.
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The transfer of shares is scheduled to conclude on 1 October 2027, dependent on contractual terms, statutory regulatory clearances, and antitrust authorisations from relevant bodies.
Upon completion, the partners will jointly operate Mitsubishi Electric Mobility, the division handling Mitsubishi Electric’s automotive systems and equipment operations.
The enterprise centres on engineering standardised EV chassis structures in Japan to aid the domestic motoring sector and support future transport solutions.
It will combine Mitsubishi Electric Mobility’s specialised technical capabilities in electric powertrains, software architectures, and vehicle-motion control with Foxconn’s deployment speed, contract-manufacturing capacity, and supply-chain scale.
Commercialisation plans involve offering these platforms to Japanese original equipment manufacturers initially.
Distribution is then intended to expand internationally over the medium to long term under the “Made in/by Japan” quality brand to demonstrate new manufacturing possibilities.
According to the announcement, the transaction aligns with Hon Hai’s 3+3+3 strategy, which focuses on EVs, digital health, and robotics, alongside artificial intelligence, semiconductors, and next-generation communications.
In terms of financial performance, Hon Hai posted revenue of T$8.1tn ($249.53bn) in 2025.
Mitsubishi Electric reported consolidated revenue of Y5.89tn for the financial year ending 31 March 2026.
In July, Foxconn and Mitsubishi Fuso Truck and Bus Corporation (MFTBC) announced a final agreement covering the planned bus manufacturing joint venture’s specific details in Japan.
The new entity, Fuso Bus Company, is to be equally owned by MFTBC and Foxconn, with each holding a 50% stake.
It will develop, manufacture, sell, and provide after-sales services for internal combustion engine (ICE) and zero-emission buses in Japan and international markets.Bottom of Form
