Hon Hai Precision Industry has secured an agreement to make Mitsubishi Motors electric vehicles, scoring the first major customer for its fledging EV contract manufacturing business.
Hon Hai will begin building vehicles for Mitsubishi in Taiwan, a person familiar with the matter said. It is unclear when production will actually start, but the first cars to roll off the assembly line would target Australia and New Zealand, the person said, asking to remain anonymous discussing a nonpublic matter. Hon Hai representatives declined to comment Thursday, while a Mitsubishi spokesperson said the automaker is always open to collaboration.
Hon Hai, known also as Foxconn, is trying to develop businesses from artificial intelligence (AI) servers to EV outsourcing to reduce its reliance on iPhones and consumer electronics. But it has made little headway on plans to assemble cars for the world’s biggest auto names, much as it does for smartphone and computer brands. It has introduced several model vehicles to show off its design and production capabilities. But building up the automotive arm will take years, Hon Hai’s EV business chief Jun Seki said in October.
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