Latest news with #Yulon-owned
TimesLIVE
6 days ago
- Automotive
- TimesLIVE
Foxconn to soon announce second Japanese auto partner
Taiwan's Foxconn will soon announce a second Japanese auto partner, chair Young Liu said on Thursday, as the company best known as Apple's main iPhone maker continues its diversification push. 'There are two Japanese carmakers; one has already been announced, and the other is almost ready to be,' Liu said at the company's annual shareholders meeting, without elaborating. Foxconn subsidiary Foxtron Vehicle Technologies and Japanese carmaker Mitsubishi this month signed a memorandum of understanding for the supply of an electric vehicle model. Foxconn views partnerships in Japan as a major opportunity for growing its EV business, Jun Seki, the Taiwan contract manufacturer's chief strategy officer for EVs, said at a Tokyo seminar in April. The Apple supplier's interest in working with Japanese car makers comes as it faces growing competition from Chinese brands that are aggressively making inroads in markets such as Europe, Brazil and Thailand. Mitsubishi Motors is a junior partner in the long-standing alliance of Nissan and French carmaker Renault. Foxconn has previously said it would consider taking a stake in Nissan for co-operation, as it has ambitions to diversify into EVs. Foxtron, the company's EV joint venture with Yulon, counts Yulon-owned Luxgen as its main client in Taiwan.
Business Times
6 days ago
- Automotive
- Business Times
Foxconn to soon announce second Japanese auto partner, chairman says
[TAIPEI] Taiwan's Foxconn will soon announce a second Japanese auto partner, Chairman Young Liu said on Thursday (May 29), as the company best known as Apple's main iPhone maker continues its diversification push. 'There are two Japanese automakers; one has already been announced, and the other is almost ready to be,' Liu said at the company's annual shareholders meeting, without elaborating. Foxconn subsidiary Foxtron Vehicle Technologies and Japanese automaker Mitsubishi Motors this month signed a memorandum of understanding for the supply of an electric vehicle (EV) model. Foxconn views partnerships in Japan as a major opportunity for growing its EV business, Jun Seki, the Taiwan contract manufacturer's chief strategy officer for EVs, said at a Tokyo seminar in April. The Apple supplier's interest in working with Japanese car makers comes as they face growing competition from Chinese brands that are aggressively making inroads in markets such as Europe, Brazil and Thailand. Mitsubishi Motors is a junior partner in the long-standing alliance of Nissan Motor and French automaker Renault. Foxconn has previously said it would consider taking a stake in Nissan for cooperation, as it has ambitions to diversify into EVs. Foxtron, the company's EV joint venture with Yulon, counts Yulon-owned Luxgen as its main client in Taiwan. REUTERS
Yahoo
6 days ago
- Automotive
- Yahoo
Foxconn to soon announce second Japanese auto partner, chairman says
TAIPEI (Reuters) -Taiwan's Foxconn will soon announce a second Japanese auto partner, Chairman Young Liu said on Thursday, as the company best known as Apple's main iPhone maker continues its diversification push. "There are two Japanese automakers; one has already been announced, and the other is almost ready to be," Liu said at the company's annual shareholders meeting, without elaborating. Foxconn subsidiary Foxtron Vehicle Technologies and Japanese automaker Mitsubishi Motors this month signed a memorandum of understanding for the supply of an electric vehicle model. Foxconn views partnerships in Japan as a major opportunity for growing its EV business, Jun Seki, the Taiwan contract manufacturer's chief strategy officer for EVs, said at a Tokyo seminar in April. The Apple supplier's interest in working with Japanese car makers comes as they face growing competition from Chinese brands that are aggressively making inroads in markets such as Europe, Brazil and Thailand. Mitsubishi Motors is a junior partner in the long-standing alliance of Nissan Motor and French automaker Renault. Foxconn has previously said it would consider taking a stake in Nissan for cooperation, as it has ambitions to diversify into EVs. Foxtron, the company's EV joint venture with Yulon, counts Yulon-owned Luxgen as its main client in Taiwan. Sign in to access your portfolio
New Straits Times
07-05-2025
- Automotive
- New Straits Times
Mitsubishi Motors signs MoU to outsource EV model development to Foxconn unit
TOKYO: Japanese automaker Mitsubishi Motors and Foxconn subsidiary Foxtron Vehicle Technologies have signed a memorandum of understanding for the supply of an electric vehicle (EV) model, the companies said on Wednesday. The EV model will be developed by Foxtron, manufactured in Taiwan by automaker Yulon and introduced in the Oceania region in the second half of 2026, Mitsubishi Motors said in a statement. "Mitsubishi Motors and Foxtron will proceed with discussions towards a definitive agreement," Mitsubishi Motors said. The company will announce full-year financial results on Thursday. Foxconn views Japan as a major opportunity for growing its EV business and has sought to strike partnerships with Japanese companies, Jun Seki, the Taiwan contract manufacturer's chief strategy officer for EVs, said at a Tokyo seminar in April. The Apple supplier's interest in working with Japanese car makers comes as they face growing competition from Chinese brands that are aggressively making inroads in markets such as Europe, Brazil and Thailand. At last month's seminar, Seki had already confirmed that Foxconn was working with Mitsubishi but did not provide further details. Mitsubishi Motors is a junior partner in the long-standing alliance of Nissan Motor and French automaker Renault. Foxconn has previously said it would consider taking a stake in Nissan for cooperation, as it has ambitions to diversify into EVs. Foxtron, the company's EV joint venture with Yulon, counts Yulon-owned Luxgen as its main client in Taiwan. In February, Nissan and rival Japanese automaker Honda Motor broke off merger talks to forge a US$60.00 billion car company. The deal fell apart due to Honda's proposal to make Nissan a subsidiary, sources have said.
Business Times
07-05-2025
- Automotive
- Business Times
Mitsubishi Motors signs MOU to outsource EV model development to Foxconn unit
[TOKYO] Japanese automaker Mitsubishi Motors and Foxconn subsidiary Foxtron Vehicle Technologies have signed a memorandum of understanding (MOU) for the supply of an electric vehicle (EV) model, the companies said on Wednesday (May 7). The EV model will be developed by Foxtron, manufactured in Taiwan by automaker Yulon and introduced in the Oceania region in the second half of 2026, Mitsubishi Motors said. 'Mitsubishi Motors and Foxtron will proceed with discussions towards a definitive agreement,' Mitsubishi Motors said. The company will announce full-year financial results on Thursday. Foxconn views Japan as a major opportunity for growing its EV business and has sought to strike partnerships with Japanese companies, Jun Seki, the Taiwan contract manufacturer's chief strategy officer for EVs, said at a Tokyo seminar in April. The Apple supplier's interest in working with Japanese car makers comes as they face growing competition from Chinese brands that are aggressively making inroads in markets such as Europe, Brazil and Thailand. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up At last month's seminar, Seki had already confirmed that Foxconn was working with Mitsubishi but did not provide further details. Mitsubishi Motors is a junior partner in the long-standing alliance of Nissan Motor and French automaker Renault. Foxconn has previously said it would consider taking a stake in Nissan for cooperation, as it has ambitions to diversify into EVs. Foxtron, the company's EV joint venture with Yulon, counts Yulon-owned Luxgen as its main client in Taiwan. In February, Nissan and rival Japanese automaker Honda Motor broke off merger talks to forge a US$60 billion car company. The deal fell apart due to Honda's proposal to make Nissan a subsidiary, sources have said. REUTERS
