Foxconn to buy half of Mitsubishi Electric Mobility in $728 million deal

Hon Hai Precision Industry Co., operating under the Foxconn brand, signed an agreement to buy a 50% share of Mitsubishi Electric Mobility Co. from Mitsubishi Electric Corp. for 115 billion yen, roughly US$728 million, via its subsidiary Lin Yin International Investment Co. The purchase is conditional on obtaining all required antitrust and regulatory approvals and is expected to close on October 1, 2027. Post-completion, the partners will co-manage Mitsubishi Electric Mobility, leveraging the Japanese firm’s expertise in electric powertrains, software and vehicle control alongside Foxconn’s rapid production capabilities and global distribution network.

Both companies said the collaboration aims to bring Japanese technology and quality to worldwide markets and showcase new possibilities for Japanese manufacturing. The move aligns with Hon Hai’s “3 plus 3” strategy to expand into electric vehicles, robotics and digital health, supported by AI, semiconductors and communications technologies.