Mitsubishi and Foxconn explore the partnership for electric vehicles

Later this year, Foxconn will begin to build its own electric vehicles, Model B Hatch and Model C SUV

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Only a few days after reports emerged that the manufacturer of Taiwanese contracts Foxconn was about to finalize agreements with two Japanese car manufacturers, according to anonymous sources that Mitsubishi is one of the companies involved. If the agreement takes place, it could mark a major change, with Mitsubishi, potentially outsourcing the EVS production in Foxconn.

For several years, Foxconn has been trying to reduce its dependence on consumer electronics and develop on the electric vehicle market, considering it as an important growth engine. He wanted to take a share of 5% of the global electric vehicle market by 2025 and previously signed agreements with Lordstown, Fisker and Byton in China. Although he has not yet reached the growth he hoped for, an agreement with Mitsubishi could be a major breakthrough for the company.

Read: Foxconn preparing to build four new electric vehicles, including two of Japanese brands

According to Nikkei AsiaFoxconn has been in talks with Mitsubishi for more than six months. The company considers this partnership as an opportunity to prove its manufacturing capacities, hoping that it will help attract other established car manufacturers.

The details of the vehicles of Mitsubishi EVS Foxconn could produce are not yet clear. The Japanese car manufacturer is expected to launch a new EV in the United States next year, with little confirmation of the model. However, the first reports suggest that it could be a crossover coupe, which would add another option to the increasing EV market.

Wider Foxconn Plan

Foxconn had expressed interest in acquiring Nissan at the end of last year, but Nissan would end up having discussions with Honda on a potential merger. However, the talks fell in early February. The Taiwanese company would always be open to participating in Nissan and will probably try to conclude an agreement to build future electric vehicles of the brand.

At this point, Foxconn has a lot on his plate when he seems to play an increasingly important role in the electric vehicle market. In addition to working with established brands, it will start the production of its internal B model, an electric tailgate similar to the VW.3 ID. He also wants to start building the largest C model in North America during the fourth quarter of this year.