Hon Hai and Mitsubishi Electric Exploring Automotive Equipment Business In MOU
24 April 2026, Taipei, Taiwan – Hon Hai Precision Industry Co. Ltd. (Foxconn) (TWSE:2317) and Mitsubishi
Electric Corporation have signed a Memorandum of Understanding to explore a strategic
alliance through joint operation of the automotive equipment business.
Under the MOU, discussions will begin toward joint
operation, including transferring 50% of shares in Mitsubishi Electric Mobility
Corporation (“Mitsubishi Electric Mobility”) to Foxconn.
Whether this joint operation can be formally
concluded remains subject to the parties’ ability to reach mutual agreement on
the commercial terms. Discussions between the parties are planned to proceed
promptly, and final agreement will be based on the results of negotiations and
contract signing between both parties, subject to relevant regulatory
requirements.
From left: Jun Seki, Chief Strategy Officer, Electric Vehicle, Hon Hai Precision Industry; and Kazunori Tanaka, Executive Officer (Associate), Automotive Equipment, Group President, Mitsubishi Electric
About Mitsubishi Electric Corporation
Guided by its corporate philosophy, Mitsubishi
Electric Corporation (TOKYO: 6503) places sustainability at the core of its
operations and values stakeholder trust – encompassing society, customers,
shareholders and employees. In pursuing profitability, capital efficiency and
growth, Mitsubishi Electric works closely alongside customers to develop
value-added solutions that address today’s complex challenges while enhancing
the company’s sustainable corporate value. Founded in 1921, Mitsubishi Electric
has over a century of experience in delivering reliable, high-quality products
and solutions. With over 200 group companies and approximately 150,000
employees worldwide, the company is a recognized global leader in
manufacturing, marketing and selling electrical and electronic equipment and
systems across a broad range of sectors, including public utility systems,
energy systems, defense and space systems, factory automation systems,
automotive equipment, building systems, air conditioning systems & home
products, digital innovations, and semiconductor & devices. For more
information, please visit www.MitsubishiElectric.com
About Foxconn
Hon Hai Technology Group (Foxconn) (TWSE:2317) is the
world’s largest electronics manufacturer and leading technology solutions
provider, ranking 28th in Fortune Global 500. In 2025, revenue totaled TWD8.1
trillion (approx. USD260 billion). The Group’s market share in electronics
manufacturing services (EMS) exceeds 40% and covers four major product
segments: smart consumer electronics; cloud and networking; computing; and
components and other. Operating over 240 campuses across 24 countries, Foxconn
is one of the world’s largest employers with approx. 900,000 employees during
peak manufacturing season. We are committed to sustainability in the
manufacturing process and serving as a best-practice model for global
enterprises.The Group is
guided by its 3+3+3 strategy, actively investing in industries of electric
vehicles, digital health, and robotics; in technologies of artificial
intelligence, semiconductors and next-generation communications; in intelligent
platforms of Smart Manufacturing, Smart EV and Smart City. Foxconn is dedicated
to becoming a comprehensive, world-class enterprise, with AI as its core
driving force.Learn more
at www.foxconn.com/en-us
2026/04/24