In a significant development for the global electric vehicle (EV) industry, Mitsubishi Motors has announced a strategic partnership with Foxtron Vehicle Technologies, a subsidiary of Taiwan’s Foxconn, to jointly develop a new electric vehicle tailored for the Oceania market.
The two companies signed a Memorandum of Understanding (MoU) outlining plans to co-develop an all-new EV model scheduled for production in the second half of 2026. Foxtron will design the vehicle, which will be manufactured in Taiwan by Yulon Motor Co., Ltd., one of Foxconn’s long-standing automotive partners.
Mitsubishi intends to launch the vehicle in Australia and New Zealand, citing growing demand for eco-friendly transportation solutions in the region. To meet local consumer preferences, the model is expected to feature cutting-edge infotainment systems and high-performance electric drive technology.
This partnership signifies Foxconn’s deepening involvement in the EV space, as the tech giant diversifies beyond its traditional electronics manufacturing base. For Mitsubishi, the collaboration is part of its broader push to accelerate its electrification strategy and remain competitive amid increasing pressure from Chinese and global EV manufacturers.
“This project combines Mitsubishi Motors’ expertise in vehicle engineering with Foxconn’s advanced technological capabilities,” the companies said in a joint statement. “Our goal is to deliver a vehicle that meets the unique needs of customers in Oceania, while contributing to a sustainable future.”
While the MoU establishes the groundwork, both firms are in discussions to finalize a definitive agreement in the coming months.
The move aligns with Mitsubishi’s long-term goal to have 100% of its global sales of electric or hybrid vehicles by 2035, as part of its environmental commitment and strategic vision for mobility innovation.
