Foxconn to Acquire 50% Stake in Mitsubishi Electric Mobility for $730 Million

The deal will establish a strategic partnership between Foxconn and Mitsubishi Electric to jointly operate the automotive equipment business and develop next-generation mobility technologies.

The companies announced the agreement on October 16, 2026. The partnership aims to combine Japanese automotive engineering expertise with Foxconn’s manufacturing scale and commercial capabilities to support the development of electric vehicle (EV) technologies and strengthen Japan’s automotive industry.

Foxconn to Acquire a 50% Stake in Mitsubishi Electric Mobility

Under the agreement, Mitsubishi Electric Corporation will transfer 50% of its stake in Mitsubishi Electric Mobility to Lin Yin International Investment. Following the transaction, Foxconn and Mitsubishi Electric will jointly operate the automotive equipment business.

The transaction values the business at JPY 320 billion (approximately $2.03 billion) on an enterprise-value basis and JPY 230 billion (approximately $1.46 billion) on an equity-value basis.

Partnership to Focus on Electric Vehicle Technologies

The partnership will combine Mitsubishi Electric Mobility’s engineering and research capabilities with Foxconn’s manufacturing capacity and ability to bring products to market.

Key areas of cooperation include electric powertrains, automotive software and vehicle control systems. Through this collaboration, the companies aim to develop high-quality EV platforms in Japan and support the adoption of next-generation mobility solutions.

Deal Expected to Close in October 2027

The transaction remains subject to contractual conditions and the required regulatory approvals, including clearances under competition laws.

According to the companies’ announcement, the share transfer is expected to be completed on October 1, 2027, provided all necessary conditions are met. Following completion, Foxconn and Mitsubishi Electric will jointly operate Mitsubishi Electric Mobility and work toward expanding the business in Japan and overseas markets.

About Foxconn and Mitsubishi Electric

Foxconn, formally known as Hon Hai Precision Industry Co., Ltd., is a Taiwan-based technology manufacturing company with operations across electronics and emerging industries, including electric vehicles. Its investment in Mitsubishi Electric Mobility forms part of its broader efforts to expand its role in the EV industry.

Mitsubishi Electric Corporation is a Japanese electronics and electrical equipment company. Through Mitsubishi Electric Mobility, it has capabilities in automotive equipment, including electric powertrains, software and vehicle control technologies.

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