Taiwanese electronics giant Foxconn said Wednesday it plans to produce an EV for a Japanese automaker for sale in the Oceanian market next year and aims to introduce multiple EVs for the Japanese market by 2027 as it seeks to expand its fledgling EV business.
The Taiwanese contract manufacturer, formally known as Hon Hai Precision Industry Co., is exploring opportunities to collaborate with existing automakers, Jun Seki, chief strategy officer for EVs, said in a briefing in Tokyo.
Provided by Kyodo News
Seki did not name the client for the Oceanian model, saying only that Foxconn is "working with" Mitsubishi Motors Corp. on EVs.
If Mitsubishi Motors strikes a deal with Foxconn to commission EV production, it would carry symbolic weight for the Japanese auto industry, which has historically been reluctant to outsource manufacturing to firms outside the traditional automotive sector.
Amid intensifying global competition in the EV market, Honda Motor Co. and Nissan Motor Co. pursued a historic realignment plan to merge into what would have been the world's third-largest auto group by volume. But the talks collapsed in February due to a rift over Nissan's streamlining efforts.
Still, Honda and Nissan — Japan's second- and third-largest automakers — along with Mitsubishi Motors, Nissan's alliance partner, are continuing discussions on collaborating in EV software development and other key areas.
Eager to partner with Japanese automakers on EVs, Foxconn has approached Renault SA about purchasing some of the French automaker's shares in Nissan, sources familiar with the matter have said.
Industry experts are closely watching to see whether Foxconn's collaboration with Mitsubishi will extend to Honda and Nissan.