Just days after reports emerged that Taiwanese contract manufacturer Foxconn was close to finalizing deals with two Japanese automakers, unnamed sources report that Mitsubishi is one of the firms involved. If the deal goes through, it could mark a major shift, with Mitsubishi potentially outsourcing EVs production to Foxconn.
For several years, Foxconn has been trying to lower its dependence on consumer electronics and expand into the EV market, viewing it as an important growth driver. It wanted to take a 5% share of the global EV market by 2025 and has previously signed deals with Lordstown, Fisker, and China’s Byton. While it’s yet to achieve the growth it had hoped for, a deal with Mitsubishi could be a major breakthrough for the firm.
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