iPhone maker Foxconn announces plan to build Mitsubishi Motor EVs

Foxconn, the IPHONE maker in Apple, has announced plans to produce electric cars (EV) for Mitsubishi Motors.

According to the agreement in principle, the Foxconn joint project will design and build cars in Taiwan Lestubchi.

Companies say they expect the new model to be available by the end of next year, according to what will be the first major contract for Foxconn in the very prosperous and competitive EV industry.

Japanese car makers such as Mitsubishi faced increasing competition from Chinese competitors on the mainland, especially in the markets in Southeast Asia, South America and Europe.

The companies said that the cars will be built by the Foxsurron – Foxconn Project with the Taiwanese car maker, Yoalon Motor.

They added: “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.”

At this stage, the agreement is the so-called Memorandum of Understanding-a non-binding deal between the two companies. Companies said they “will move to discussions towards a final agreement.”

Foxconn is the largest electronics manufacturer in the world, and is considered the main technology companies like Apple among its customers.

She previously said that she will consider purchasing a Japanese stake in Nissan Motor for “cooperation” as she looks forward to entering the auto industry.

Mitsubishi Motors is a beginner partner in an alliance between Nissan and French car maker Renault.

The movements come with the expansion of the auto industry in China in recent years, and the second largest economy in the world has appeared as a pioneer in the growing EV market.

Car makers have struggled all over the world to compete as the main Chinese players like BYD continued to win new customers.