Foxconn, the world’s largest contract electronics manufacturer, has acquired a 50% stake in Mitsubishi Electric’s automotive parts division for $727 million, signaling a major expansion into electric vehicle (EV) production. The move aligns with growing industry demand for battery and component manufacturing as automakers accelerate their shift toward electrification. Mitsubishi Electric will retain operational control of the unit, while Foxconn brings its expertise in electronics and supply chain management to support EV development. The partnership highlights how tech and automotive sectors are converging to meet rising global EV production needs.
Foxconn pays $727M for half of Mitsubishi Electric’s car parts unit in EV push Electrek
