Mitsubishi Motors has announced a partnership with Taiwan-based Foxconn's electric vehicle division, Foxtron Vehicle Technology, to source an original equipment manufacturer (OEM) electric car model for the Australian and New Zealand markets. The Japanese automaker plans to sell the EV model in the latter half of 2026, marking a significant expansion of its electric vehicle offerings in the region.

The partnership was formalized through a memorandum of understanding (MoU) signed between Mitsubishi Motors and Foxtron, with further discussions to be held to reach a final agreement. Foxtron is a joint venture between Foxconn, a leading electronics manufacturer, and Yulon Motor Co, a Taiwan-based company that assembles and manufactures cars for Nissan.

The move is part of Mitsubishi Motors' strategy to accelerate its electrification efforts, particularly in the Asia-Pacific region. The company has been working to strengthen its electric vehicle lineup, and the partnership with Foxconn is expected to provide a significant boost to its efforts. Mitsubishi Motors has set a target of having electrified vehicles account for 50% of its global sales by 2030.

In addition to the partnership with Foxconn, Mitsubishi Motors is also leveraging its three-way alliance with Renault and Nissan to augment its electric vehicle offerings. The company has announced plans to sell a rebadged version of the Nissan Leaf electric car in North America in the second half of 2026, while Nissan will sell a rebranded plug-in hybrid electric vehicle model made by Mitsubishi in the same region.

Mitsubishi Motors will also sell rebranded EV models made by Renault in Europe, further expanding its electric vehicle presence in the region. The company's efforts to strengthen its electric vehicle lineup are expected to have a significant impact on the global EV market, particularly in the Asia-Pacific region where demand for electric vehicles is growing rapidly.

The partnership with Foxconn is also significant for the Taiwan-based company, which has been expanding its presence in the electric vehicle market. Foxconn has been investing heavily in electric vehicle technology and has partnered with several major automakers, including Fisker Inc and Stellantis, to develop and manufacture electric vehicles.

The deal is expected to have broader implications for the global electric vehicle market, as major automakers continue to partner with technology companies and startups to accelerate their electrification efforts. As the demand for electric vehicles continues to grow, partnerships like the one between Mitsubishi Motors and Foxconn are likely to become more common, driving innovation and growth in the industry.

In conclusion, the partnership between Mitsubishi Motors and Foxconn is a significant development in the electric vehicle market, highlighting the growing importance of partnerships and collaborations in driving innovation and growth in the industry. As the demand for electric vehicles continues to grow, it will be interesting to see how major automakers and technology companies work together to shape the future of the industry.