Foxconn could manufacture EVs for Mitsubishi
As reported by the portal Kyodo News – citing well-informed sources – Mitsubishi is toying with the idea of bringing Foxconn on board for the production of electric cars. However, the manufacturer will only make a decision “in the coming weeks at the earliest.” The collaboration is to be structured in such a way that Mitsubishi Motors sells the vehicles produced by Foxconn under its own electric car brand, although according to the insiders, the specific models have not yet been determined. And: Mitsubishi Motors will retain its existing production facilities and at the same time use Foxconn’s contract manufacturing, it is said.
The news has not been officially confirmed, but it would be highly significant, as Mitsubishi would be the first Japanese manufacturer to enter into such a partnership. Foxconn is also said to be interested in partnerships with Nissan and Honda. Mitsubishi Motors, in turn, is an alliance partner of Nissan and also briefly considered joining an alliance between Honda and Nissan before these plans fell through in February. The Japanese companies have long held on to hybrids and are known to have a hard time with the transformation – and are therefore looking for partners to gain more clout.
Mitsubishi is said to be hoping for shorter development, production and delivery times from Foxconn. In addition, lower production costs could free up funds for more technology development. However, the company itself officially only states that it continues to seek possible collaborations with a variety of partners to achieve sustainable growth.
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