Foxtron Vehicle Technologies, a subsidiary of Hon Hai Precision Industry (Foxconn), has signed a memorandum of understanding (MOU) with Mitsubishi Motors for the supply of a new electric vehicle (EV) model.
Under the terms of the MOU, Foxtron will develop the EV, which will be manufactured in Taiwan by Yulon Motor and supplied to Mitsubishi Motors as an OEM product.
Go deeper with GlobalData
The vehicle model is scheduled for market introduction in Australia and New Zealand in the second half of 2026.
The model forms part of Mitsubishi Motors’ product planning strategy for the Oceania region, which extends through 2030.
This collaboration aligns with Mitsubishi Motors’ broader electrification strategy, which includes hybrid and plug-in hybrid offerings in other markets.
It includes the updated Outlander PHEV and new hybrid EV models for the Xpander and Xforce, which have seen success in the ASEAN market.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe alliance provides opportunities to source OEM models from Renault in Europe and Nissan in North America.
Mitsubishi is also exploring the potential for global collaboration with alliance partners to strengthen its EV portfolio and advance towards carbon neutrality.
In a recent report, Mitsubishi Motors has shown a significant increase in production, with 75,004 units produced in January 2025, an 82.2% increase year-on-year.
Overseas production also saw a substantial rise, with a 67.4% year-on-year increase, including 31,360 units manufactured in Asia.
Thailand’s production output soared to 15,031 units, a 61.6% jump, while Indonesian factories ramped up to 11,250 units, registering a robust 77.4% growth year-over-year.
Domestically, the company sold 10,236 units, counting imports to Japan, achieving a 114.3% surge from the previous year’s figures.
