Foxconn and Mitsubishi Electric Sign MOU to Evaluate Feasibility of Joint Automotive Equipment Operations
Foxconn and Mitsubishi Electric have signed an MOU to explore the feasibility of a joint venture in automotive equipment, which may include Foxconn acquiring a 50% stake in Mitsubishi Electric Mobility.
📋 Article Processing Timeline
- 📰 Published: April 24, 2026 at 19:42
- 🔍 Collected: April 24, 2026 at 20:01 (19 min after Published)
- 🤖 AI Analyzed: April 24, 2026 at 22:23 (2h 21m after Collected)
Central News Agency
(CNA Reporter Chang Chien-chung, Hsinchu 24th) Hon Hai Precision Industry (Foxconn) announced today that it has signed a Memorandum of Understanding (MOU) with Japan's Mitsubishi Electric Corporation. The two parties will commence a feasibility assessment for a strategic alliance regarding the joint operational model of their automotive equipment business.
Foxconn stated that as part of the MOU, both parties will also evaluate joint operation plans, including the potential transfer of a 50% equity stake in Mitsubishi Electric Mobility Corporation to Foxconn.
Foxconn pointed out that whether this project can be formally realized depends on the commercial terms and whether both parties can reach a consensus in the future. The details of subsequent cooperation will be based on the results of further negotiations and the signing of formal contracts, and must comply with various regulations and relevant requirements from competent authorities.
Mitsubishi Electric was founded in 1921. The group has over 200 affiliated companies worldwide and approximately 150,000 employees. Its business covers the manufacturing, marketing, and sales of electrical and electronic equipment and systems. Its application areas are extensive, including public utility systems, energy systems, defense and space systems, factory automation systems, automotive equipment, building systems, air conditioning systems and home products, digital innovation, as well as semiconductors and devices. (Editor: Lin Ke-lun) 1150424
Stand with the facts; every sponsorship from you is the power to protect press freedom.
Download the CNA 'First-hand News' APP to grasp the latest news instantly.
The text, images, and audio/video on this website are not to be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.
(CNA Reporter Chang Chien-chung, Hsinchu 24th) Hon Hai Precision Industry (Foxconn) announced today that it has signed a Memorandum of Understanding (MOU) with Japan's Mitsubishi Electric Corporation. The two parties will commence a feasibility assessment for a strategic alliance regarding the joint operational model of their automotive equipment business.
Foxconn stated that as part of the MOU, both parties will also evaluate joint operation plans, including the potential transfer of a 50% equity stake in Mitsubishi Electric Mobility Corporation to Foxconn.
Foxconn pointed out that whether this project can be formally realized depends on the commercial terms and whether both parties can reach a consensus in the future. The details of subsequent cooperation will be based on the results of further negotiations and the signing of formal contracts, and must comply with various regulations and relevant requirements from competent authorities.
Mitsubishi Electric was founded in 1921. The group has over 200 affiliated companies worldwide and approximately 150,000 employees. Its business covers the manufacturing, marketing, and sales of electrical and electronic equipment and systems. Its application areas are extensive, including public utility systems, energy systems, defense and space systems, factory automation systems, automotive equipment, building systems, air conditioning systems and home products, digital innovation, as well as semiconductors and devices. (Editor: Lin Ke-lun) 1150424
Stand with the facts; every sponsorship from you is the power to protect press freedom.
Download the CNA 'First-hand News' APP to grasp the latest news instantly.
The text, images, and audio/video on this website are not to be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.