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Mitsubishi Forms Strategic Partnership with Foxconn to Supply Electric Vehicles to Australia and New Zealand from 2026
Mitsubishi Motors has signed a memorandum of understanding with Foxconn's subsidiary Foxtron Vehicle Technologies to supply electric vehicles to the markets of Australia and New Zealand starting in 2026. According to TrendForce, this step is not only an important milestone in Mitsubishi's electrification strategy but also signals a strategic shift by the company in response to rapidly changing market conditions.
For Foxconn, this partnership is significant: the recognition of its contract design and manufacturing services (CDMS) by a well-known global automaker opens new horizons for global business expansion.
The electric vehicle model to be supplied to these markets will be developed by Foxtron, manufactured by Yulon Motor, and sold under the Mitsubishi brand. TrendForce notes that this collaboration illustrates two key trends in the modern automotive industry:
- Traditional automakers are increasingly turning to external partners to accelerate their transformation in the face of electrification challenges and market instability.
- Participants from diverse backgrounds are playing an increasingly important role in shaping a new supply chain model, demonstrating the industry's growing openness to cooperative ecosystems.
Mitsubishi's strategic goal is to focus on the sales of hybrids (HEV), plug-in hybrids (PHEV), and battery electric vehicles (BEV) by 2030, and to make BEVs the core of its model lineup by 2035. However, the company currently faces several challenges, including a limited range of fully electric models and a low share of electrified vehicles in overall sales—less than 10%.
According to TrendForce, the Mitsubishi-Foxconn partnership is mutually beneficial. Foxconn can provide Mitsubishi with an accelerated entry into the electric vehicle market thanks to its technologies and manufacturing capabilities. Particularly relevant is the development of right-hand drive models for the Oceania markets, which will also support expansion into other key Mitsubishi markets in Southeast Asia and Japan, where demand for such vehicles remains consistently high.
Previously, Foxconn had already collaborated with Luxgen, gaining experience in electric vehicle manufacturing. The partnership with Mitsubishi not only confirms Foxconn's international manufacturing capability but also demonstrates the scalability of its CDMS model. If the company can effectively implement its global strategy amid the current geopolitical landscape, it will open up new opportunities for collaboration with other global automakers.