Agreement to Begin Discussions on Strategic Partnership through Joint Operation of Automotive Equipment Business with Hon Hai Precision Industry
Mitsubishi Electric and Foxconn have signed an MoU to explore a strategic partnership for the joint operation of Mitsubishi Electric's automotive equipment business. Foxconn is considering a 50% stake in Mitsubishi Electric Mobility to collaborate on EVs and SDVs.
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- 📰 Published: April 25, 2026 at 05:40
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Jun Seki, Chief Strategy Officer (CSO) for Electric Vehicles (EV) at Hon Hai Precision Industry (Left), and Kazunori Tanaka, Senior Executive Officer and Group President of Automotive Equipment at Mitsubishi Electric (Right)
Mitsubishi Electric Corporation has signed a Memorandum of Understanding (MoU) today with Hon Hai Precision Industry Co., Ltd. (Headquarters: New Taipei City, Taiwan; hereinafter Hon Hai Precision Industry / Foxconn) to begin exploring a strategic partnership through the joint operation of our automotive equipment business.
Under this MoU, our company and Hon Hai Precision Industry aim to expand our collaboration areas to the automotive equipment field, including electrification, autonomous driving, and SDV (*1), and create synergies. Furthermore, based on this MoU, we will begin discussions for joint operation with Hon Hai Precision Industry, with a view to accepting a 50% investment in Mitsubishi Electric Mobility Corporation (hereinafter Mitsubishi Electric Mobility), which handles our automotive equipment business.
With the start of this strategic partnership consideration, Mitsubishi Electric Mobility will utilize Hon Hai Precision Industry's expertise and network to contribute to the provision of high-quality EV platforms (basic structures) originating from Japan, including powertrains and autonomous driving technologies, thereby contributing to the strengthening of Japan's industrial base and the sustainable growth of the automotive industry. In the medium to long term, we aim to enhance the value of 'Made in Japan' in the global market.
Moving forward, positioning the maintenance of trusting relationships with stakeholders, stable supply, and quality maintenance as our top priorities, the parties will proceed with full-scale discussions and will promptly announce any matters that need to be disclosed as they arise.
■ About Hon Hai Technology Group
Hon Hai Technology Group (Foxconn), of which Hon Hai Precision Industry is the core company, is the world's largest electronics manufacturer and a leading technological solution provider, ranked 28th in the Fortune Global 500. Total revenue in 2025 reached 8.1 trillion NTD (approximately 260 billion USD).
The group's market share in Electronics Manufacturing Services (EMS) exceeds 40%, covering four main product areas: smart consumer electronics, cloud networking, computing, and components/others. With over 240 locations in 24 countries, Foxconn employs approximately 900,000 people at its peak, creating one of the largest workforces in the world, committing to sustainability in its manufacturing processes, and serving as a best practice model for global companies. Under its '3+3+3' strategy, the group is actively investing in the electric vehicle, digital health, and robotics industries. In technologies such as artificial intelligence, semiconductors, and next-generation communications, Foxconn aims to become a comprehensive, world-class enterprise with AI as its core driving force in intelligent platforms such as smart manufacturing, smart EVs, and smart cities. For details, please visit http://www.foxconn.com/en-us.
■ About Mitsubishi Electric Group
Under 'Our Philosophy', the Mitsubishi Electric Group places sustainability at the core of its management and values the trust of stakeholders, including society, customers, shareholders, and employees. In addition to pursuing 'profitability', 'capital efficiency', and 'growth potential', we will continue to connect with customers and create new value to solve social issues, striving for sustained improvement in corporate value. Since our founding in 1921, with over 100 years of history, we have been operating businesses in social systems, energy systems, defense and space systems, FA systems, automotive equipment, building systems, air conditioning and home appliances, digital innovations, and semiconductors/devices. We have over 200 group companies worldwide and approximately 150,000 employees, with consolidated sales of 5,521.7 billion yen in fiscal 2024. For details, please visit our official website.
*1 Software Defined Vehicle (The concept of an automobile where many functions and values of the vehicle can be defined and updated by software)
< Inquiries regarding the business >
Mitsubishi Electric Corporation Industry & Mobility Business Area
Automotive Equipment Business Promotion Unit
2-7-3 Marunouchi, Chiyoda-ku, Tokyo 100-8310
TEL 03-3218-2913
E-mail: qa.melmb@nh.Mitsubishi.Electric.co.jp
Mitsubishi Electric Corporation has signed a Memorandum of Understanding (MoU) today with Hon Hai Precision Industry Co., Ltd. (Headquarters: New Taipei City, Taiwan; hereinafter Hon Hai Precision Industry / Foxconn) to begin exploring a strategic partnership through the joint operation of our automotive equipment business.
Under this MoU, our company and Hon Hai Precision Industry aim to expand our collaboration areas to the automotive equipment field, including electrification, autonomous driving, and SDV (*1), and create synergies. Furthermore, based on this MoU, we will begin discussions for joint operation with Hon Hai Precision Industry, with a view to accepting a 50% investment in Mitsubishi Electric Mobility Corporation (hereinafter Mitsubishi Electric Mobility), which handles our automotive equipment business.
With the start of this strategic partnership consideration, Mitsubishi Electric Mobility will utilize Hon Hai Precision Industry's expertise and network to contribute to the provision of high-quality EV platforms (basic structures) originating from Japan, including powertrains and autonomous driving technologies, thereby contributing to the strengthening of Japan's industrial base and the sustainable growth of the automotive industry. In the medium to long term, we aim to enhance the value of 'Made in Japan' in the global market.
Moving forward, positioning the maintenance of trusting relationships with stakeholders, stable supply, and quality maintenance as our top priorities, the parties will proceed with full-scale discussions and will promptly announce any matters that need to be disclosed as they arise.
■ About Hon Hai Technology Group
Hon Hai Technology Group (Foxconn), of which Hon Hai Precision Industry is the core company, is the world's largest electronics manufacturer and a leading technological solution provider, ranked 28th in the Fortune Global 500. Total revenue in 2025 reached 8.1 trillion NTD (approximately 260 billion USD).
The group's market share in Electronics Manufacturing Services (EMS) exceeds 40%, covering four main product areas: smart consumer electronics, cloud networking, computing, and components/others. With over 240 locations in 24 countries, Foxconn employs approximately 900,000 people at its peak, creating one of the largest workforces in the world, committing to sustainability in its manufacturing processes, and serving as a best practice model for global companies. Under its '3+3+3' strategy, the group is actively investing in the electric vehicle, digital health, and robotics industries. In technologies such as artificial intelligence, semiconductors, and next-generation communications, Foxconn aims to become a comprehensive, world-class enterprise with AI as its core driving force in intelligent platforms such as smart manufacturing, smart EVs, and smart cities. For details, please visit http://www.foxconn.com/en-us.
■ About Mitsubishi Electric Group
Under 'Our Philosophy', the Mitsubishi Electric Group places sustainability at the core of its management and values the trust of stakeholders, including society, customers, shareholders, and employees. In addition to pursuing 'profitability', 'capital efficiency', and 'growth potential', we will continue to connect with customers and create new value to solve social issues, striving for sustained improvement in corporate value. Since our founding in 1921, with over 100 years of history, we have been operating businesses in social systems, energy systems, defense and space systems, FA systems, automotive equipment, building systems, air conditioning and home appliances, digital innovations, and semiconductors/devices. We have over 200 group companies worldwide and approximately 150,000 employees, with consolidated sales of 5,521.7 billion yen in fiscal 2024. For details, please visit our official website.
*1 Software Defined Vehicle (The concept of an automobile where many functions and values of the vehicle can be defined and updated by software)
< Inquiries regarding the business >
Mitsubishi Electric Corporation Industry & Mobility Business Area
Automotive Equipment Business Promotion Unit
2-7-3 Marunouchi, Chiyoda-ku, Tokyo 100-8310
TEL 03-3218-2913
E-mail: qa.melmb@nh.Mitsubishi.Electric.co.jp