Foxconn, the manufacturer of Apple iPhones, announced its intention to produce electric vehicles (EV) for the giant of the Japanese car Mitsubishi Motors.
According to the agreement in principle, a Foxconn joint venture will conceive and build cars in Taiwan for Mitsubishi.
Companies say they expect the new model to be available by the end of next year, as part of what would be Foxconn’s first major contract in the booming and highly competitive electric vehicle industry.
Japanese car manufacturers and Mitsubishi have faced an increasing competition from continental Chinese rivals, especially in the markets in Southeast Asia, South America and Europe.
Companies have declared that cars will be built by FOxtron – The Co -EV Co -Highness of Foxconn with the Taiwanese car manufacturer, Yulon Motor.
“FOXTRON will provide design and manufacturing management services and this model should enter the Australia and New Zealand markets in the second half of 2026,” they added.
At this stage, the agreement is a so -called understanding of understanding – a non -binding agreement between the two companies. The companies said they “would make discussions on a final agreement”.
Foxconn is the largest manufacturer of contractual electronics in the world and has large technological companies such as Apple among its customers.
He previously declared that he would plan to buy a participation in Japan Nissan Motor for “cooperation” while he was trying to enter the automotive industry.
Mitsubishi Motors is a junior partner in an alliance between Nissan and the French car manufacturer Renault.
The movements are involved while the Chinese automotive industry has grown rapidly in recent years and the second world economy has become a leading market leader in electric vehicles.
Car manufacturers established around the world have struggled to compete while the main Chinese players like Byd continue to win new customers.