Foxconn Buys 50% Stake in Mitsubishi Electric Mobility

Foxconn has agreed to acquire a 50 per cent stake in Mitsubishi Electric Mobility for 115 billion yen (US$727 million or approximately RM3.1 billion), expanding its footprint in the global automotive sector as reported on 19 October 2026. The transaction will be executed via Foxconn investment arm Lin Yin International Investment.

Following regulatory approvals, the 50:50 joint venture is scheduled for completion on 1 October 2027. The collaboration combines Mitsubishi Electric's automotive software, vehicle control systems, and electric powertrain capabilities with Foxconn's large-scale manufacturing expertise. No official Malaysian distributor, local vehicle pricing, or domestic delivery schedule has been announced in the source material.

Key Facts

What Is the Purpose of the Foxconn and Mitsubishi Electric Mobility Joint Venture?

The joint venture between Foxconn and Mitsubishi Electric Mobility aims to jointly develop electric vehicle platforms for Japanese automotive manufacturers before marketing them globally under a "Made in/by Japan" approach. It unites Mitsubishi Electric's powertrain engineering with Foxconn's mass manufacturing scale to supply international carmakers.

According to a report by Electrek on 19 October 2026 titled "Foxconn pays $727M for half of Mitsubishi Electric’s car parts unit in EV push", this transaction represents one of Foxconn's largest investments to expand its electric vehicle operations. The partners target annual revenue exceeding 1 trillion yen (US$6.3 billion or approximately RM27.2 billion) for the financial year beginning April 2030.

Foxconn and Mitsubishi Electric will operate Mitsubishi Electric Mobility as an equal 50:50 joint venture following the completion of the 115 billion yen transaction on 1 October 2027.

What Automotive Components Does Mitsubishi Electric Mobility Manufacture?

Mitsubishi Electric Mobility produces automotive hardware and software for internal combustion engine, hybrid, and fully electric vehicles. Its portfolio spans electric motors, inverters, battery management systems, advanced driver assistance system cameras, radar units, electric power steering, transmission control systems, alternators, starters, ignition coils, and engine control units.

For the financial year ended March 2026, Mitsubishi Electric Mobility posted revenue of 875.6 billion yen (US$5.5 billion or approximately RM23.7 billion) and an operating profit of 54.4 billion yen. Revenue declined by 43.5 billion yen compared to the previous year, influenced by weakening sales by Japanese carmakers in China and a downsizing of its automotive multimedia business in North America.

Mitsubishi Electric Mobility manufactures powertrain components, electronic control units, and driver-assistance sensors for internal combustion, hybrid, and battery electric vehicles.

What Are Foxconn's Broader Automotive Industry Targets?

Foxconn first announced its electric vehicle ambitions in 2020, establishing a public target to supply components or services to 10 per cent of the global EV market between 2025 and 2027. Since then, the group has developed multiple EV models under the Foxtron marque and pursued partnerships with vehicle manufacturers.

Among its existing automotive partnerships, Mitsubishi Motors utilises Foxtron technology for the ASX VR-e model sold in Australia and New Zealand. Foxconn was also linked to talks regarding a potential stake in Nissan in early 2025, although those negotiations concluded without an agreement. Acquiring half of Mitsubishi Electric Mobility grants Foxconn direct access to Japanese automotive technology.

Foxconn aims to supply components or services to 10 per cent of the global electric vehicle market between 2025 and 2027.

Who Is This For in Malaysia?

This cross-border automotive transaction currently impacts international supply chains, component procurement, and global manufacturing partnerships rather than direct Malaysian retail consumers. The source material does not cite any local Malaysian vehicle launches, domestic CKD or CBU assembly plans, road tax adjustments, or distributor appointments.

The source material notes Foxconn's technology is present in regional right-hand-drive markets, such as the Mitsubishi ASX VR-e marketed in Australia and New Zealand. Any future availability, pricing, or support of joint-venture platforms under Malaysian motoring regulations, Puspakom inspections, or local charging infrastructure has not been announced.

The source material does not report any local vehicle launches, Malaysian retail pricing, or official distributor appointments resulting from Foxconn's investment.

Common Questions

When will Foxconn complete the acquisition of Mitsubishi Electric Mobility?

The transaction is scheduled to close on 1 October 2027, subject to regulatory approvals. Lin Yin International Investment will acquire a 50 per cent stake, establishing an equal joint venture with parent firm Mitsubishi Electric.

How much did Foxconn pay for the 50 per cent stake?

Foxconn agreed to acquire the 50 per cent stake for 115 billion yen, which equates to US$727 million or approximately RM3.1 billion according to the source material.

Has an official distributor or vehicle release been announced for Malaysia?

No official distributor, local vehicle pricing, or Malaysian release date has been announced in the source text. The agreement covers component manufacturing and platform development for automotive manufacturers rather than consumer vehicle distribution.

Sources and Methodology

Source details and publication data are cited directly from the original report published by Careta, authored by Qalif Latif on 20 October 2026, titled "Foxconn Beli 50 Peratus Saham Mitsubishi Electric Mobility Bernilai RM3.1 Bilion". The source cites external reporting from Electrek published on 19 October 2026.

Original report: Careta

Facts were translated into British English from the original Malay source text. Source figures in US dollars without source-provided Ringgit values were converted at an approximate exchange rate of US$1.00 to RM4.32 and labelled accordingly. This article is based on the source report above and was last updated on 20 October 2026.