Foxconn, the producer of Apple's iPhones, has introduced a plan to provide electrical automobiles (EV) for Japanese automobile big Mitsubishi Motors.
Under the settlement in idea, a Foxconn three way partnership will design and manufacture vehicles in Taiwan for Mitsubishi.
Companies say they anticipate new fashions out there by the top of subsequent 12 months, which will probably be Foxcon's first main and extremely aggressive EV business within the EV business.
Japanese automobile producers resembling Mitsubishi have confronted rising competitors from mainland Chinese rivals, particularly within the markets in Southeast Asia, South America and Europe.
Companies said that vehicles can be manufactured by Foxtron – Taiwanese automobile producer with Foxcon's EV three way partnership, Yulon Motor.
“Foxtron will provide design and manufacturing management services and this model is expected to enter the markets of Australia and New Zealand in the second half of 2026,” he stated.
At this stage, the compromise is a so-called memorandum-a non-negotiable deal between firms. Companies have stated that they are going to “move forward with” dialogue with a sure settlement. “
Foxconn is the world's largest contract electronics manufacturer and counts that major technology companies have Apple among their customers.
It was earlier stated that it would consider buying a stake in Japan's Nissan Motor for “cooperation” as it was seen to enter the motor industry.
Mitsubishi Motors is a junior partner in an alliance between Nissan and French car manufacturer Renault.
In recent years, China's car industry has expanded rapidly and the world's second largest economy has emerged as a leader in the growing EV market.
Car producers put in worldwide have struggled to compete as a result of distinguished Chinese gamers like BYD proceed to win new clients.
With inputs from BBC