Foxconn Acquires 50% Stake in Mitsubishi Electric's Auto Parts Division to Bolster EV Strategy
Foxconn, a major electronics manufacturer, is investing $727 million for a 50% share in Mitsubishi Electric Mobility, the automotive parts subsidiary of Mitsubishi Electric. This move represents Foxconn's largest commitment to date in transitioning its electric vehicle aspirations into a tangible business. While Mitsubishi Electric Mobility primarily produces traditional auto components like alternators and sensors, the acquisition will also grant Foxconn access to its smaller electric powertrain operations.