Mitsubishi Electric and Foxconn Form Automotive Equipment Alliance

Mitsubishi Electric and Hon Hai Precision Industry, also known as Foxconn Technology Group, have entered a strategic alliance to jointly operate an automotive-equipment business. Under the terms of the agreement, Mitsubishi Electric will transfer a 50% stake in its automotive-equipment arm, Mitsubishi Electric Mobility, to Lin Yin International Investment, an investment-management subsidiary of Hon Hai.

The share transfer is projected to cost 115 billion yen, approximately 727.85 million US dollars, with completion expected in October 2027. The partnership combines the technical capabilities of Mitsubishi Electric Mobility with the market deployment scale and speed of Foxconn.

The alliance aims to develop next-generation mobility and support the sustainable growth of the automotive industry in Japan.