Not Nissan Or Honda, Foxconn Finally Matches Merger With This Japanese Manufacturer

JAKARRA - Foxconn is reported to have met with a well-known automotive manufacturer from Japan to build electric vehicles, but not Nissan or Honda but Mitsubishi.

According to a report from Carscoops, quoted Monday, March 24, according to an unnamed source Mitsubishi has agreed to cooperate with Foxconn, after previously the Taiwanese company was rumored to be establishing with an automotive manufacturer from Japan.

If it is true that the agreement is realized, it could mark major changes, especially for the Japanese brand, and Mitsubishi has the potential to empower production of electric vehicles to Foxconn.

As is known, Foxconn has been trying to reduce its dependence on consumer electronics and expand into the electric vehicle market, viewing it as an important growth driver.

In fact, the company has big ambitions in 2025 by controlling 5 percent of the global electric vehicle market share. The deal with Mitsubishi could be a major breakthrough for the company.

According to a report from Nikkei Asia, Foxconn has been negotiating with Mitsubishi for more than six months, and the company views this partnership as an opportunity to prove its manufacturing capabilities, in hopes of attracting other established automakers.

Details about which EV Mitsubishi might be produced by Foxconn remain unclear. The Japanese automaker is expected to launch a new EV in the United States next year, with little confirmation of its model. However, preliminary reports suggest that it could be a crossover coup, which would add another option to the growing EV market.

Foxconn's penetration in the electric vehicle segment

In addition to exploring cooperation with various companies, Foxconn also plays an increasingly important role in the electric vehicle market. This brand is rumored to be starting to produce Model B, an electric-powered hatchback that is similar to VW ID.3. The company also wants to start producing a larger Model C in North America in the fourth quarter of this year.