Foxconn to Host EV Strategy Seminar in Japan Following Mitsubishi Deal

Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle strategy, according to two sources with direct knowledge of the matter.

Credit: GETTY IMAGES

The Taiwan-based contract manufacturer aims to attract more Japanese automakers after securing a deal with Mitsubishi Motors. The seminar is intended to deepen understanding of Foxconn’s EV plans among automakers and suppliers.

Jun Seki, Foxconn’s chief EV strategy officer and a former Nissan executive, is expected to speak at the event.

Foxconn declined to comment on the seminar or the Mitsubishi agreement, which marks the first Japanese contract for its Contract Design and Manufacturing Service (CDMS) unit. CDMS focuses on producing EVs for car brands.

The Mitsubishi deal represents a significant shift in Japan’s auto industry, which faces increasing competition from Chinese EV makers such as BYD.

Two other sources said Foxconn will manufacture EVs for Mitsubishi to be sold in Oceania markets, including Australia, New Zealand and Taiwan.

Mitsubishi stated it would continue exploring collaboration opportunities with various partners.

The agreement is a milestone in Foxconn’s five-year effort to enter the EV market, following earlier deals with Geely and Lordstown Motors that did not progress.

Trendforce analyst Caroline Chen said the Mitsubishi order reflects confidence in Foxconn’s manufacturing capabilities in the experience-driven automotive sector. She added that Mitsubishi’s brand reputation would raise the visibility of the partnership.

Foxtron, Foxconn’s EV joint venture with Taiwan’s Yulon, currently counts Yulon-owned Luxgen as its main client in Taiwan.

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Foxconn to host EV seminar in Japan on April 9

Event follows EV manufacturing deal with Mitsubishi Motors

Jun Seki, former Nissan executive, expected to speak

Source: REUTERS